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Trade and development report 2013

Adjusting to the changing dynamics of the world economy

image of Trade and development report 2013
The shape of the world economy has changed significantly over the last two decades, with a rising importance of several developing countries and regions as additional drivers of global economic growth. The main objective of Trade and Development Report 2013 is to assess the systemic changes in the underlying structure of the world economy and to analyse the resulting policy challenges. Particular attention will be paid to a plausible scenario in which developing and transition countries must design their development strategies in a context of a prolonged period of sluggish growth in developed countries. The Report’s main message will be that in order to achieve high, sustained and inclusive growth, developing and transition economies will need to move towards a new form of development, away from seeking net-export advantages on the back of global imbalances. Rather, the new context calls for strengthening domestic income and demand and reinvigorating regional and South-South coordination and economic linkages.

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Financing the real economy

A redesign of development strategies involves structural change as well as an expansion of productive capacities and their adaptation to new demand patterns, all of which require financing. The availability and conditions of such financing have evolved significantly over the past few decades. In addition, the recent economic and financial crisis presents new challenges for the financial sector and its capacity to provide long-term credit for investment. This chapter analyses the challenges and options currently available to developing and emerging market economies to finance their development.

English

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