World Economic Outlook, September 2011: Slowing Growth, Rising Risks
World Economic Outlook, September 20, 2011
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Bibliographic details
- Published: September 20, 2011
- Series: World Economic Outlook
- DOI: https://doi.org/10.5089/9781616351199.081
Global outlook and main assessment
- The September 2011 edition of the World Economic Outlook assesses the prospects for the global economy, which is now in a dangerous new phase.
- Global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing.
- Against a backdrop of unresolved structural fragilities, a barrage of shocks hit the international economy this year, including:
- the devastating Japanese earthquake and tsunami,
- unrest in some oil-producing countries,
- and the major financial turbulence in the euro area.
Key forces shaping the outlook
- Two of the forces now shaping the global economy are:
- high and rising commodity prices,
- and the need for many economies to address large budget deficits.
Chapters emphasized (analysis focus)
- Chapter 3:
- examines the inflationary effects of commodity price movements and the appropriate monetary policy response.
- Chapter 4:
- explores the implications of efforts by advanced economies to restore fiscal sustainability and by emerging and developing economies to tighten fiscal policy to rebuild fiscal policy room and in some cases to restrain overheating pressures.
Major themes, findings, and policy implications
- Findings:
- Global activity: weakened and more uneven.
- Confidence: fallen sharply recently.
- Downside risks: growing.
- Structural fragilities: unresolved and contributing to vulnerability.
- Policy implications and considerations highlighted:
- Monetary policy: assess appropriate responses to inflationary effects of commodity price movements (Chapter 3).
- Fiscal policy: balance restoring fiscal sustainability in advanced economies with rebuilding fiscal policy room in emerging and developing economies; in some cases tighten fiscal policy to restrain overheating pressures (Chapter 4).
Subjects and keywords (as listed)
- Subject: Balance of payments, Commodity price shocks, Commodity prices, Current account balance, Fiscal consolidation, Fiscal policy, Inflation, Prices
- Keywords: advanced economy, Asia and Pacific, Caribbean, Central America, Central and Eastern Europe, commodity market development, Commodity price shocks, Commodity prices, current account, Current account balance, debtor economy, economy, Europe, Fiscal consolidation, fiscal policy change, Global, headline inflation, Inflation, inflation expectation, Middle East, North Africa, policy room, price shock, Sub-Saharan Africa, trade balance, WEO