Monga, Celestin
The Growth Report and New Structural Economics Monga, Celestin [electronic resource] / Monga, Celestin - Washington, D.C., The World Bank, 2010 - 1 online resource (25 p.) - Policy research working papers. World Bank e-Library. .
Despite its heavy human, financial, and economic cost, the recent global recession provides a unique opportunity to reflect on the knowledge from several decades of growth research, draw policy lessons from the experience of successful countries, and explore new approaches going forward. In an increasingly globalized world where fighting poverty is not only a moral responsibility but also a strategy for confronting some of the major problems (diseases, malnutrition, insecurity and violence) that ignore boundaries and contribute to global insecurity, thinking about new ways of generating and sustaining growth is a crucial task for economists. This paper reassesses the evolution of knowledge on growth and suggests a new structural approach to the analysis. It offers a brief, critical review of lessons learned from growth research and examines the remaining challenges - especially from the policy standpoint. It highlights how the 2008 Growth Commission Report identifies the stylized facts associated with sustained and inclusive growth. And it explains how the new structural economics provides a consistent framework for understanding the key findings of the Report.
10.1596/1813-9450-5336
Achieving Shared Growth
Business cycles
Classical economists
Development economics
Economic Growth
Economic growth
Economic historians
Economic performance
Economic Theory & Research
Economics
Economists
Financial crisis
Fiscal policies
GDP
Growth projections
Growth theory
Inequality
Living standards
Macroeconomic analysis
Macroeconomics and Economic Growth
Moral responsibility
National income
Per capita income
Political Economy
Poverty Reduction
Wealth
Wealth creation
The Growth Report and New Structural Economics Monga, Celestin [electronic resource] / Monga, Celestin - Washington, D.C., The World Bank, 2010 - 1 online resource (25 p.) - Policy research working papers. World Bank e-Library. .
Despite its heavy human, financial, and economic cost, the recent global recession provides a unique opportunity to reflect on the knowledge from several decades of growth research, draw policy lessons from the experience of successful countries, and explore new approaches going forward. In an increasingly globalized world where fighting poverty is not only a moral responsibility but also a strategy for confronting some of the major problems (diseases, malnutrition, insecurity and violence) that ignore boundaries and contribute to global insecurity, thinking about new ways of generating and sustaining growth is a crucial task for economists. This paper reassesses the evolution of knowledge on growth and suggests a new structural approach to the analysis. It offers a brief, critical review of lessons learned from growth research and examines the remaining challenges - especially from the policy standpoint. It highlights how the 2008 Growth Commission Report identifies the stylized facts associated with sustained and inclusive growth. And it explains how the new structural economics provides a consistent framework for understanding the key findings of the Report.
10.1596/1813-9450-5336
Achieving Shared Growth
Business cycles
Classical economists
Development economics
Economic Growth
Economic growth
Economic historians
Economic performance
Economic Theory & Research
Economics
Economists
Financial crisis
Fiscal policies
GDP
Growth projections
Growth theory
Inequality
Living standards
Macroeconomic analysis
Macroeconomics and Economic Growth
Moral responsibility
National income
Per capita income
Political Economy
Poverty Reduction
Wealth
Wealth creation