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UNCTAD advocates new development strategies

From export-led models to domestic orientation

Adjusting to the structural shifts in the world economy makes far-reaching changes in development strategies necessary. Against the background of a prolonged period of slow growth in developed countries, export-led development in the South is no longer viable, UNCTAD states in its new Trade & Development Report (TDR 2013). The developing world needs more balanced strategies with a greater emphasis on the domestic markets. A WDEV summary

 

According to the report, subtitled “Adjusting to the changing dynamics of the world economy” (see reference), developing and transition economies can compensate for growth shortfalls in the North through countercyclical macroeconomic policies for some time. But in the longer term, policy makers will need to reconsider development strategies that have been overly dependent on exports.  Instead, the report says, development strategies should place a greater emphasis on the role of wages and the public sector in the development process...


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Find in this article:

Growth for all instead of “beggar-thy-neighbour”
Low-cost or productivity growth?
Redirection of public policy
Supportive financial systems and policies
An enlarged mandate for central banks


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Towards a vision for the post-2015 world / Statement on the results of the BRICS meeting

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