Long-term growth scenarios / Åsa Johansson; Yvan Guillemette; Fabrice Murtin; David Turner; Giuseppe Nicoletti ...
Contributor(s): Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: OECD. OECD Economics Department working papers ; 1000Publisher: Paris : OECD, 2013Description: Online-Ressource : graph. DarstSubject(s): Genre/Form: DOI: DOI: 10.1787/5k4ddxpr2fmr-enOnline resources: Summary: This paper presents the results from a new model for projecting growth of OECD and major non-OECD economies over the next 50 years as well as imbalances that arise. A baseline scenario assuming gradual structural reform and fiscal consolidation to stabilise government-debt-to GDP ratios is compared with variant scenarios assuming deeper policy reforms. One main finding is that growth of the non-OECD G20 countries will continue to outpace OECD countries, but the difference will narrow substantially over coming decades. In parallel, the next 50 years will see major changes in the composition of the world economy. In the absence of ambitious policy changes, global imbalances will emerge which could undermine growth. However, ambitious fiscal consolidation efforts and deep structural reforms can both raise long-run living standards and reduce the risks of major disruptions to growth by mitigating global imbalances.PPN: PPN: 735319243Package identifier: Produktsigel: ZDB-13-SOC | ZDB-13-SOC-ebookNo physical items for this record
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