LEADER 02165nam a2200301 i 4500001    99131235017006421
005    20231011125252.0
006    m     o  d
007    cr |||||||||||
008    231011s2023    dcu     o     000 0 eng d
024 7  10.1596/1813-9450-10354
035    (CKB)5840000000243536
035    (NjHacI)995840000000243536
035    (EXLCZ)995840000000243536
040    NjHacI |beng |erda |cNjHacl
050  4 HJ192.5 |b.K55 2023
082 04 339.52 |223
100 1  Kilic Celik, Sinem, |eauthor.
245 10 Potential growth : |ba global database / |cSinem Kilic Celik, [and three others].
246    Potential Growth
264  1 Washington, District of Columbia : |bWorld Bank, |c2023.
300    1 online resource.
336    text |btxt |2rdacontent
337    computer |bc |2rdamedia
338    online resource |bcr |2rdacarrier
490 1  Policy research working papers
588    Description based on publisher supplied metadata and other sources.
520    Potential growth-the rate of expansion an economy can sustain at full capacity and employment-is a critical driver of development progress. It is also a major input in the formulation of fiscal and monetary policies over the business cycle. This paper introduces the most comprehensive database to date, covering the nine most commonly used measures of potential growth for up to 173 countries over 1981-2021. Based on this database, the paper presents three findings. First, all measures of global potential growth show a steady and widespread decline over the past decade, with all the fundamental drivers of growth losing momentum over time. In 2011-21, potential growth was below its 2000-10 average in nearly all advanced economies and roughly 60 percent of emerging market and developing economies. Second, adverse events, such as the global financial crisis and the COVID-19 pandemic, contributed to the decline. At the country-level also, national recessions lowered potential growth even five years after their onset. Third, the persistent impact of recessions on potential growth operated through weaker growth of investment, employment, and productivity.
650  0 Fiscal policy.
830  0 Policy research working papers.
906    BOOK