What obstacles prevent the most productive technologies from spreading to less developed economies from the world … distances between populations, and document how such distances, relative to the world’s technological frontier, act as barriers …

The global economy is currently expanding at a moderate pace, albeit with considerable differences in momentum across … countries. The economy in the United States is still growing at robust rates, whereas the euro area is in a phase of stagnation … inflation rates are not expected to fall sustainably close to the target levels again until 2025. Risks for the global economy …