Five Reasons for Slow Growth
Since the beginning of the financial crisis, growth projections by governments, central banks, and international financial institutions have been consistently overoptimistic. At least five factors need to be taken into account in forecasting growth and crafting effective economic-recovery efforts.
MILAN – A remarkable pattern has emerged since the 2008 global financial crisis: Governments, central banks, and international financial institutions have consistently had to revise their growth forecasts downward. With very few exceptions, this has been true of projections for the global economy and individual countries alike.