Global Economic Prospects, January 2015 : Having Fiscal Space and Using It
Global growth again disappointed in 2014 but a lackluster recovery is underway, with increasingly divergent prospects in major economies. Looking ahead, growth is expected to rise slowly, supported by continued recovery in high-income countries and receding domestic headwinds in developing economies...
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| Formato: | Online |
| Idioma: | en_US |
| Publicado em: |
Washington, DC
2014
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| Acesso em linha: | https://hdl.handle.net/10986/20758 https://doi.org/10.1596/978-1-4648-0444-1 |
| _version_ | 1866366993350787072 |
|---|---|
| author | World Bank Group |
| author_facet | World Bank Group |
| author_sort | World Bank Group |
| collection | Publicaciones institucionales emblemáticas |
| description | Global growth again disappointed in 2014 but a lackluster recovery is underway, with increasingly divergent prospects in major economies. Looking ahead, growth is expected to rise slowly, supported by continued recovery in high-income countries and receding domestic headwinds in developing economies. Weak global trade growth and lower commodity prices are projected to persist while financial conditions will likely tighten gradually. Risks to the outlook are still tilted to the downside.
The stability of remittances may help some of the lowest-income countries weather shocks. In some developing economies, monetary policy challenges may be attenuated if falling commodity prices reduce inflationary pressures. Fiscal stimulus could effectively support growth if there is sufficient fiscal space. Some developing countries, however, have to rebuild fiscal space to preserve their ability to implement countercyclical fiscal policy, which has served them well over the decade. Both high-income and developing countries need to undertake structural reforms that promote growth and job creation and help achieve poverty reduction goals.
The Global Economic Prospects is a World Bank Group Flagship Report. On a twice yearly basis (January and June), it examines global economic developments and prospects, with a special focus on developing countries. The report includes analysis of topical policy challenges faced by developing countries through extensive research in the January edition and shorter pieces in the June edition. |
| format | Online |
| id | wb-10986-20758 |
| institution | Banco Mundial |
| language | en_US |
| publishDate | 2014 |
| publisher | Washington, DC |
| record_format | dspace |
| spelling | wb-10986-207582025-04-16T05:48:40Z Global Economic Prospects, January 2015 : Having Fiscal Space and Using It 0 Perspectives économiques mondiales : Disposer d’une marge de manœuvre budgétaire et l’utiliser Perspectivas Económicas Mundiales, Enero de 2015 : tener espacio fiscal y utilizarlo Perspectives économiques mondiales, Janvier 2015 : disposer d une marge de manoeuvre budgétaire et l utiliser Perspectivas Económicas Mundiales, Enero de 2015 : tener espacio fiscal y utilizarlo Perspectives économiques mondiales, Janvier 2015 : disposer d une marge de manoeuvre budgétaire et l utiliser World Bank Group capital inflows developing countries forecasts growth inflation macroeconomics outlook macroeconomic outlook unemployment fiscal policy oil prices global trade consumption Global growth again disappointed in 2014 but a lackluster recovery is underway, with increasingly divergent prospects in major economies. Looking ahead, growth is expected to rise slowly, supported by continued recovery in high-income countries and receding domestic headwinds in developing economies. Weak global trade growth and lower commodity prices are projected to persist while financial conditions will likely tighten gradually. Risks to the outlook are still tilted to the downside. The stability of remittances may help some of the lowest-income countries weather shocks. In some developing economies, monetary policy challenges may be attenuated if falling commodity prices reduce inflationary pressures. Fiscal stimulus could effectively support growth if there is sufficient fiscal space. Some developing countries, however, have to rebuild fiscal space to preserve their ability to implement countercyclical fiscal policy, which has served them well over the decade. Both high-income and developing countries need to undertake structural reforms that promote growth and job creation and help achieve poverty reduction goals. The Global Economic Prospects is a World Bank Group Flagship Report. On a twice yearly basis (January and June), it examines global economic developments and prospects, with a special focus on developing countries. The report includes analysis of topical policy challenges faced by developing countries through extensive research in the January edition and shorter pieces in the June edition. 0 En 2014, la croissance mondiale a été plus faible que prévu — illustration supplémentaire de la série de résultats décevants enregistrés depuis quelques années. La croissance ne s’est que légèrement accélérée en 2014 pour atteindre un taux de 2,6 % contre 2,5 % en 2013. Derrière ces chiffres globaux se dissimulent toutefois des divergences de plus en plus marquées au sein des grandes économies. Tandis que l’activité gagnait de la vitesse aux États-Unis et au Royaume-Uni, parallèlement à l’assainissement du marché du travail et à la poursuite de politiques monétaires extrêmement accommodantes, la reprise piétinait dans la zone euro et au Japon en raison des effets persistants de la crise financière conjugués aux blocages structurels. Pour sa part, la Chine traverse une phase de ralentissement soigneusement gérée. Les taux de croissance insatisfaisants observés dans d’autres pays en développement en 2014 sont dus à la faiblesse de la demande extérieure, mais aussi au durcissement des politiques intérieures, au climat d’incertitude politique et aux limites imposées par l’offre. Les forces qui gouvernent les perspectives mondiales et les risques connexes présentent d’importants défis pour les responsables de l’action publique. La présente édition des Perspectives économiques mondiales comprend quatre essais consacrés à l’analyse des principaux défis et possibilités qui se présentent actuellement aux pays en développement : la politique budgétaire comme outil anticyclique ; les causes et conséquences du faible prix du pétrole ; l’incapacité des échanges commerciaux, du fait de leur manque de dynamisme, à stimuler la croissance ; les envois de fonds comme moyen de stabiliser la consommation durant les périodes d’arrêts brutaux de flux de capitaux. 2014-12-17T17:27:27Z 2014-12-17T17:27:27Z 2015-01-13 978-1-4648-0444-1 1014-8906 https://hdl.handle.net/10986/20758 https://doi.org/10.1596/978-1-4648-0444-1 en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf application/pdf application/pdf application/pdf text/plain application/pdf text/plain Washington, DC |
| spellingShingle | capital inflows developing countries forecasts growth inflation macroeconomics outlook macroeconomic outlook unemployment fiscal policy oil prices global trade consumption World Bank Group Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title | Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_full | Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_fullStr | Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_full_unstemmed | Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_short | Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_sort | global economic prospects january 2015 having fiscal space and using it |
| topic | capital inflows developing countries forecasts growth inflation macroeconomics outlook macroeconomic outlook unemployment fiscal policy oil prices global trade consumption |
| url | https://hdl.handle.net/10986/20758 https://doi.org/10.1596/978-1-4648-0444-1 |
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