The World Bank has looked at a whole set of fundamental drivers that determine economic growth and found that all of them have been losing power.The following table shows a broad-based decline over the past two decades whether a country belongs to EMDEs or the middle-income countries (MICs) or the low-income countries (LICs).The biggest reason for the slowdown is that the EMDEs are in the midst of a prolonged period of weakness.It is possible to reverse the slowdown in potential growth and chart a sustained, sustainable, and inclusive growth path by implementing ambitious, broad-based and forceful policies at the national and global levels.
Third, while they are significant challenges confronting emerging market and developing economies (EMDEs), they are not insurmountable.Second, the slowdown in potential growth is expected to persist for the rest of this decade.Major adverse shocks also reduce potential growth by leaving a lasting impact on these drivers.First, there has been a protracted, broad-based decline in potential growth and its underlying drivers.It examines trends in potential growth and its drivers, global and regional prospects for potential growth and investment over the 2020s, and a range of policy options to lift potential growth.The report uses a comprehensive database of multiple measures of potential growth.The report “ Falling Long-Term Growth Prospects: Trends, Expectations, and Policies” is published by the World Bank.About the Report (Key Highlights, Reasons for Slowdown, About India, Suggestions, etc.).The report offers the first comprehensive assessment of long-term potential output growth rates in the aftermath of the COVID-19 Pandemic and the Russian invasion of Ukraine.
The World Bank, recently, published a report titled “Falling Long-Term Growth Prospects: Trends, Expectations, and Policies”.
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