Perspectives on Global Development 2013

Industrial Policies in a Changing World

image of Perspectives on Global Development 2013

First launched in 2010, Perspectives on Global Development (PGD) is OECD’s annual publication on emerging development issues. The PGD takes the new geography of economic growth, poverty and power as a point of departure. Each year, the report identifies, analyses and provides evidence and policy solutions to the most pressing global development challenges in the new multipolar world. It provides an overview of global trends and structural transformations in the world economy and informs policy makers in developing countries on the implications in the formulation and implementation of national policies. Each year, the report focuses on a different topic covering diverse socio-economic facets of development from trade, development finance, infrastructure, production development and innovation to gender, employment, migration, fiscal and social policies.

During the past decade, the global economic centre of gravity has shifted eastwards and southwards, creating new opportunities for economic co-operation, trade and investment but also new challenges. This “shifting wealth” is a game changer for economic policy and is at the centre of the first three editions of the Perspectives on Global Development, which document the phenomenon (PGD 2010) and analyse its implications for social cohesion (PGD 2012) and productive growth strategies (PGD 2013).

English Also available in: Chinese, French

Shifting wealth and the new world economy

OECD Development Centre

Doubts have intensified over whether the recent process of income convergence will continue. The growth performance of developing countries in the 2000s was indeed largely linked to China and other emerging economies. However, the economic challenges associated with China’s rebalancing from investment-led to consumption-driven growth, and also doubts about whether other emerging economies can sustain their growth trend raise concerns regarding growth prospects. Nevertheless, the relatively low level of per capita income in many countries with a large population, which illustrates the significant space for catch-up growth, and the rise of the middle classes in such countries give reason for optimism. It is likely that the recalibration of the world economy will continue for the foreseeable future. Its scale will depend on what happens in large emerging economies as well as on domestic development policies.

English Also available in: French


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