International Monetary Fund

Washington, DC, March 7 and 8, 2011

Macro and Growth Policies in the Wake of the Crisis

SESSION V: Growth Strategies

The crisis was preceded by a long period of high growth, and higher income inequality.

Some argue that this increase in income inequality was at the root of the large decrease in household saving in the US, as people tried to maintain consumption growth by borrowing. Some argue that the emergence of a middle class in China is essential to the development of more advanced products, in which technological progress is higher. If the diagnosis is correct, can the problem be handled through conventional policies, or does it require a more dramatic reassessment of growth models, both in advanced countries and in export-oriented emerging economies?

Background notes on growth


George Akerlof

George Akerlof is the Koshland Professor of Economics at the University of California, Berkley. He was awarded the Nobel Prize in Economic Sciences in 2001.



Dani Rodrik

Growth After the Crisis

Globalization and Growth: Implications for a Post-Crisis World

Commission on Growth and Development

The New Development Economics: We Shall Experiment, But How Shall We Learn?

The Real Exchange Rate and Economic Growth

Dani Rodrik is the Rafiq Hariri Professor of International Political Economy at the John F. Kennedy School of Government, Harvard University.

Paul Romer

Which Parts of Globalization Matter for Catch-Up Growth?

Future Cities Need to Hand Over the Keys

Paul Romer is the President of Charter Cities, a research nonprofit focused on the interplay of rules, urbanization, and development.

Andrew L T Sheng

Financial Crisis and Global Governance

Free Markets and Property Rights Infrastructure

The Crisis of Money in the 21st Century

Andrew L T Sheng has published widely in economics and finance. His latest publication is From Asian to Global Financial Crisis, Cambridge University Press, October 2009, and a special article on Global Financial Regulatory Reform, in Global Policy Journal Issue 2, London School of Economics.

Michael Spence

New Ideas for a New World: Michael Spence—Watch the video interview

Michael Spence served as the Chairman of the Commission on Growth and Development (2006-2010 the life of the commission), Professor Emeritus of Management in the Graduate School of Business at Stanford University, a Senior Fellow of the Hoover Institution at Stanford and Professor of Economics at the Stern School of Business at New York University. In 2001, Spence received the Nobel Prize in Economic Sciences.