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The Growth Comeback in Developing Economies : A New Hope or Back to the Future?

Author/Editor: John C Bluedorn | Rupa Duttagupta | Jaime Guajardo | Nkunde Mwase
Authorized for Distribution: May 30, 2013
Electronic Access: Free Full Text (PDF file size is 1,249KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: Growth takeoffs in developing economies have rebounded in the past two decades. Although recent takeoffs have lasted longer than takeoffs before the 1990s, a key question is whether they could unravel like some did in the past. This paper finds that recent takeoffs are associated with stronger economic conditions, such as lower post-takeoff debt and inflation levels; more competitive real exchange rates; and better structural reforms and institutions. The chances of starting a takeoff in the 2000s was triple that before the 1990s, with domestic conditions accounting for most of the increase. The findings suggest that if today’s dynamic developing economies sustain their improved policies; they are more likely to stay on course compared to many of their predecessors.
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Series: Working Paper No. 13/132
Subject(s): Economic growth | Low-income developing countries | Brazil | Korea, Republic of | Indonesia | Mozambique | Cambodia | Development | Cross country analysis | Economic models
    Published:   May 30, 2013        
    ISBN/ISSN:   9781484321980/1018-5941   Format:   Paper
    Stock No:   WPIEA2013132   Pages:   49
    Price:   US$18.00
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