Promoting High, Sustainable and Inclusive Growth During the ‘New Normal’

Abstract

Much more sober economic growth prospects are expected to characterize the world’s largest industrial countries, under what some experts call the “new normal”. Recent global economic reports acknowledge that the era of high economic expansion could be over; and that even as industrial countries are showing signs of growth, there are still challenging times ahead. New drivers of growth are likely necessary for the developing world; and if so, many countries will have to re-think their industrialization and development models.

Keywords: New normal; social protection; economic growth; sustainability; inequity

JEL Classification: F60; H41; O47