Countries and international organizations working on longer-range development issues depend on long-term quantitative projections and scenario analysis. Such forecasting has become increasingly challenging, thanks to the rapid pace of globalization, technological progress, the interplay among...

The authors argue that, at the broad level of global analysis, there are good reasons to be optimistic about the 1990s. First, there are favorable supply side developments in many of the high income countries. Second, considerable scope exists for a recovery of private consumption and investment...

This paper analyzes the historical evolution of the international monetary system in the context of the rising role of developing countries in the world economy and the emerging multi-polar growth setting. It evaluates the stability of the current"non-system"and how the global economic context...

In response to the Great Recession of 2008, many national governments implemented fiscal stimuli packages in 2009 and 2010 to prevent further declines in aggregate demand and to jump start their economic recovery. Where subnational governments responded with fiscal contraction, as in the United...

China's government economic stimulus package in 2008-09 appears to have worked well. It seems to have been about the right size, included a number of appropriate components, and was well timed. Its subnational component was designed to maximize the impact of the stimulus package on the economy...

Substantial progress in the fight against extreme poverty was made in the last two decades. But the slowdown in global economic growth and significant increases in income inequality in many developed and developing countries raise serious concerns about the continuation of this trend into the...

This volume consists of papers presented at the Korea-World Bank High Level Conference on Post-Crisis Growth and Development.The volume is organized as follows. In chapters one and two, II SaKong, chairman of the Presidential Committee for the Group of Twenty (G-20) Seoul Summit, and Ngozi...

Using two macroeconomic models and results, the authors simulate global outcomes in the 1990s under several scenarios, allowing for the impact of: (a) changes in industrial countries'financial and macroeconomic conditions; (b) changes in the international oil market; and (c) changes in...