Modern Growth in Perspective: Relative Performance Since the Global Financial Crisis
39 Pages Posted: 14 May 2018
Date Written: May 10, 2018
This paper evaluates the growth performance of more than 200 economies. It identifies instances of relatively strong economic performance after the 2008-09 global financial crisis, and asks if determinants of sustained strong (and weak) performance have changed in recent years. It finds that investment matters more for growth post-crisis; that the negative impact of debt-based financial development predates the crisis; and that economic openness and democracy now play a greater role in ensuring “average” growth outcomes.
Keywords: economic growth, reversals, populism, synthetic controls
JEL Classification: O47, E65
Suggested Citation: Suggested Citation