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Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequently slowed to a sluggish pace by pre-recession...
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portfolio investment and cross - border bank lending-fared less well, especially those in Europe and Central Asia. A key lesson …
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Although emerging market and developing economies (EMDEs) weathered the global recession a decade ago relatively well, they now appear less well placed to cope with the substantial downside risks facing the global economy. In many EMDEs, the room for monetary and fiscal policies to respond to...
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Governments play a very important role in supporting innovation, managing the disruptive effects of innovation, and … ensuring that the benefits of innovation are broadly shared in the long run. This paper reviews the literature on market … mechanisms that translate innovation into jobs and policies that are needed to improve outcomes. Although many countries now …
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