11.10.10

Searching for a growth engine

According to Rodrik:

"In the early days of the global financial crisis, there was some optimism that developing countries would avoid the downturn that advanced industrial countries experienced. […] But these hopes were dashed as international lending dried up and trade collapsed."

"[…] Sustained growth requires a growth strategy, and most developing countries do not yet have one that would put them irrevocably on the path of economic convergence."

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