What was global gdp growth in 2017

In response, we are shifting our priorities for lending toward projects that can spur follow-on investment by the private sector.

GDP has been has been widely used over the years to measure economic progress. Alternatives could include measuring jobs, well-being and health. GDP also ignores the impact of important things like climate change. The views expressed in this article are those of the author alone and not the World Economic Forum.

World-renowned leadership expert, Michael Useem, has developed a checklist that includes 16 mission-critical principles to make good and timely decisions. Six Chief Economists give their view on what's next for inflation - is it transitory? Will it endure? How should governments, central banks and policy-makers respond?

I accept. Take action on UpLink. Explore context. That said, the full impact of any fiscal stimulus would depend on a host of factors, including its size and composition, the timing of its implementation, the reaction of monetary policy authorities, the amount of slack remaining in the U. Conversely, if trade policies take a protectionist turn, they could lead to higher import costs and could impact growth.

The new policy path would also have implications for inflation and asset prices. A tightening of U. Federal Reserve policy tightening or other reasons — would be felt across global financial markets, and could have adverse effects on emerging and developing economies that rely heavily on external financing.

Until specific proposals are known, it is difficult to comprehensively assess the overall impact of these policy changes on U. But, whatever course the United States eventually charts, a protracted period of uncertainty about economic policy direction by itself would be a drag on global growth and investment.

Another significant concern clouding the outlook is the substantial slowdown in investment growth in emerging market and developing economies in recent years. The numbers tell a stark story: investment growth in these economies has tumbled from 10 percent, on average, in to about 3.

The weakness in investment has been most pronounced in the largest emerging markets and commodity-exporting emerging and developing economies, but has now spread to the majority of these economies.

In fact, investment growth is below its long-term average in the greatest number of countries in last 25 years, except during serious global downturns. No single cause is to blame. Weak growth prospects, the commodities price bust, subdued foreign direct investment, policy and political uncertainty in major economies, and elevated private debt have all contributed to sap investment growth. While not a headline-grabber, the weakness in investment growth can have insidious and corrosive effects.

It slows capital deepening, constrains planned urbanization, and limits future growth potential. Since output growth is a confirmed dynamo of poverty reduction, setbacks to investment growth are a peril to achieving global goals of poverty eradication. Download for free You need to log in to download this statistic Register for free Already a member?

Log in. Show detailed source information? Register for free Already a member? More information. Supplementary notes. Other statistics on the topic. International Countries with the largest gross domestic product GDP per capita International Countries with the largest gross domestic product GDP International The 20 countries with the lowest gross domestic product GDP per capita in Economy Leading export countries worldwide Aaron O'Neill.

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