Toward a Switchover of Locomotives in the Global Economy

Abstract

The recovery in advanced economies is now exhibiting several signs of fragility and the medium-term growth prospects for these economies also look difficult. Could developing economies “switch over” to become locomotives in the global economy, providing a countervailing force against downward trends? The view taken here says, yes, as long as appropriate domestic policies and reforms are pursued in developing countries.financial cirsis, developing countries, growth, recovery, global economy, GDP, domestic policies, reforms, "switch over", decoupling