Growth in emerging and developing economies has recently weakened, compared to the strong growth performance observed in much of the 2000s. This paper assesses the nature of this growth slowdown by focusing on prospects for 3 specific growth drivers: external demand, demographic evolution, and economic convergence. Overall, the analysis suggests a slower clip of growth for these economies going forward, although growth is likely to stay stronger on average than those in advanced economies. Promoting stronger longer-term growth would require reforms that facilitate needed investment flows, and ensure demographic dividends, where expected, to materialize.
This work is part of the ‘Macroeconomics in Low-income countries’ programme
Rupa Duttagupta, Futoshi Narita, Emerging and developing economies: Entering a rough patch or protracted low gear?, Journal of Policy Modeling, Volume 39, Issue 4, 2017, Pages 680-698, https://doi.org/10.1016/j.jpolmod.2017.05.015.
Emerging and Developing Economies: Entering a Rough Patch or Protracted Low Gear?