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- W4249303982 abstract "Since the 2000s, economic growth in developing countries generally has been robust, contributing to the phenomenon of shifting wealth – the increasing economic weight of developing countries in the world economy – and improved livelihoods. Despite this shift in the global economic centre of gravity, several middle-income countries are not growing fast enough to converge with advanced countries by 2050. Slowing convergence is one factor contributing to a gloomier development prognosis for the next 15 years. Weakening global demand, partly caused by slowing growth in the People’s Republic of China (hereafter, China), is hampering the growth prospects of many developing countries. Rising interest rates could fuel volatility in emerging economies’ currency, bond and stock markets, and as rates rise, debt-service costs increase. Access to international finance may become increasingly difficult for many developing countries. These challenges will be exacerbated by rapid demographic transitions, urbanisation, premature deindustrialisation, digitalisation and automation, and the rising incidence of climate-related shocks." @default.
- W4249303982 created "2022-05-12" @default.
- W4249303982 date "2017-03-28" @default.
- W4249303982 modified "2023-09-25" @default.
- W4249303982 title "Executive summary" @default.
- W4249303982 doi "https://doi.org/10.1787/9789264273153-3-en" @default.
- W4249303982 hasPublicationYear "2017" @default.
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