Editorial: Restoring healthy growth: policies for higher and more inclusive productivity

A pickup in global growth remains elusive, almost eight years after the financial crisis erupted. The recovery in advanced economies is still muted, particularly in the euro area and Japan, while growth has slowed in emerging-market economies (EMEs). Trade and investment remain weak, while jobs and wage growth have been disappointing. Financial markets are increasingly volatile as capital searches for both yield and safety. Getting back to healthy and inclusive growth calls for urgent policy response, drawing on monetary, fiscal, and structural policies working together: On the one hand, demand policies alone will not restore sustainable growth but on the other hand, policies to strengthen competition and innovation, spur job creation, and repair financial systems to fund investment will only yield results if there is enough demand.