Stabilisation, Adjustment and Growth Prospects in Transitional Economies

Author(s):  
Cevdet Denizer
2004 ◽  
Vol 54 (3) ◽  
pp. 387-397
Author(s):  
Mihály Laki ◽  
Beáta Huszka

R. J. McIntyre and B. Dallago (eds): Small and Medium Enterprises in Transitional Economies. Palgrave Macmillan in association with the United Nations University / World Institute for Development Economics Research, 2003, 259 pp. (Reviewed by Mihály Laki); S. S. Bhalla: Imagine There's No Country. Poverty, Inequality, and Growth in the Era of Globalisation. Washington, D.C.: Institute for International Economics, 2002, 248 pp. (Reviewed by Beáta Huszka)


Author(s):  
Louçã Francisco ◽  
Ash Michael

Chapter 11 assesses the growth prospects of the world economy. The history of global economic doomsaying is traced briefly, a frequently reasonable position that has not done well with the facts for the past hundred years. Capitalism has been adept at escaping from the pit and pendulum. A set of global imbalances is then reviewed that are seen as posing a severe threat to global economic stability and certainly to the prospects for sustainable and equitable growth. The Great Recession following the Crash of 2007–8 might be “different this time.” Historical and contemporary fears of “secular stagnation” are discussed but the speculative nature of stagnationist assessments is acknowledged.


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