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The Growth Comeback in Developing Economies: A New Hope or Back to the Future?
Author:
Mr. John C Bluedorn
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Rupa Duttagupta null

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Mr. Jaime Guajardo
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Miss Nkunde Mwase
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Series:
IMF Working Papers
Volume/Issue:
Volume 2013: Issue 132
Language:
English
Publication Date:
30 May 2013
DOI:
https://doi.org/10.5089/9781484321980.001
ISBN:
9781484321980
ISSN:
1018-5941
Pages:
49
Keywords:
WP; growth takeoff; exchange rate; economy group; dynamic LIC; IMF staff calculation; growth; takeoff; development; low-income countries; convergence; LIC takeoff; saving-investment gap; Real exchange rates; Income inequality; Export performance; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Growth takeoffs in developing economies have rebounded in the past two decades. Although recent takeoffs have lasted longer than takeoffs before the 1990s, a key question is whether they could unravel like some did in the past. This paper finds that recent takeoffs are associated with stronger economic conditions, such as lower post-takeoff debt and inflation levels; more competitive real exchange rates; and better structural reforms and institutions. The chances of starting a takeoff in the 2000s was triple that before the 1990s, with domestic conditions accounting for most of the increase. The findings suggest that if today’s dynamic developing economies sustain their improved policies; they are more likely to stay on course compared to many of their predecessors.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund