IV Convergence and Divergence in Developing Countries
Author:
International Monetary Fund. Research Dept.
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Language:
English
Print Publication Date:
30 May 1993
Keywords:
WEO; country; developing country; exchange rate; investment ratio; investment-GDP ratio; exchange market reform; net importer; physical capital; Oil; Total factor productivity; Oil prices; Public investment spending; Middle East; Western Hemisphere; East Asia

Abstract

During the past two decades there have been wide disparities in the pace of economic growth among developing countries. Differences in the external environment account for some of these divergences, but domestic policies have been decisive. There is considerable evidence that macroeconomic stability and the removal of structural distortions boost growth by improving the incentives to save and invest, as well as the efficiency of investment. As more countries implement stabilization and structural reform policies, the medium-term prospects for the developing world appear brighter than they have been for some time.

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Cover World Economic Outlook, May 1993
World Economic Outlook, May 1993
ISBN:
9781557752864
ISSN:
0256-6877
Publication Date:
30 May 1993
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557752864.081
Pages:
207