Are Emerging Markets Still Emerging Bart van Ark Since 2014 GDP growth in emerg

Are Emerging Markets Still Emerging Bart van Ark Since 2014 GDP growth in emerg

Are Emerging Markets Still Emerging Bart van Ark Since 2014 GDP growth in emerg

Daddy, Freak, Music Director/Afternoon Host has reference to this Academic Journal, PHwiki organized this Journal Are Emerging Markets Still Emerging Bart van Ark Since 2014 GDP growth in emerging markets rapidly declined – both employment in addition to productivity are causes Contributions of Employment in addition to Labor Productivity to GDP Growth, 2000-2016, in % (annual average) Source: The Conference Board Total Economy Database, May 2016 To some extent this is much about China, but not just China Trend growth in output (GDP) per worker, 1971-2015, in %

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While emerging market growth held up after 2008/09 crisis, it was increasingly investment driven with negative TFP Growth Contributions of Labor, Capital in addition to Productivity, in % The BRICs don’t have a lot in common except as long as recently weakening TFP growth Growth Contributions of Labor, Capital in addition to Productivity, in % The “next” generation of emerging markets shows a similar pattern of mostly capital intensification of the growth process Growth Contributions of Labor, Capital in addition to Productivity, in %

Possible explanations as long as emerging market slowdown Short-term: A temporary dip due to lower oil in addition to commodity prices as long as resource-rich emerging markets Fallout of possible monetary tightening in U.S., including depreciations in addition to inflation Increase capital outflow to regions with higher returns Medium-term: End of catch-up growth in addition to transition from investment- in addition to export- driven growth to consumption in addition to services driven growth A middle income trap because of increased global competitive challenges Innovation challenges in globalization V2 Long-term: Erosion of demographic dividends Structural policy issues (regulatory in addition to governance) Resource-rich economies are tightening monetary in addition to fiscal stance, while net users of resources loosen policies further to support economic growth Source: Haver Analytics % Mar ‘16 The middle income trap results from the failure to transition to a slower but sustainable growth path

Countries trapped in the middle-income range are characterized by loss of competition in transition process Countries that are unable to compete with low-income, low-wage economies in manufactured exports in addition to with advanced economies in high-skill innovations such countries cannot make a timely transition from resource-driven growth, with low cost labor in addition to capital, to productivity-driven growth. (ADB, 2011) Industries that drove the growth in the early period start to become globally uncompetitive due to rising wages. These labor-intensive sectors move to lower-wage countries in addition to are replaced by a new set of industries that are more capital-, human capital-, in addition to knowledge-intensive in the way they create value. (Spence 2011) A large number of countries that receive too little manufacturing FDI stay at stage zero. Even after reaching the first stage, climbing up the ladders becomes increasingly difficult. Another group of countries are stuck in the second stage because they fail to upgrade human capital. (Ohno 2009) The countries that are “technically” at risk of a middle income trap are all relatively capital- or resource-intensive Output per person employed as a % of OECD average, 19902-15 There are still many different “China’s” Level of GDP per capita (PPP-based) – The richest five vs the poorest five provinces

Emerging markets still enjoy demographic dividend but it will slow – higher skills have to make up as long as it to drive TFP growth “Natural” refers to growth in population excluding migration Source: United Nations Population Division Productivity growth could see some recovery into 2020s, but will it be enough to offset slowing labor supply Trend growth in output (GDP) per worker, 1970-2025, in % No !! Growth rates of mature in addition to emerging markets will converge dramatically Europe includes European Union -28 as well as Switzerl in addition to , Icel in addition to in addition to Norway. Other mature economies are Australia, Canada, Icel in addition to , Israel, Hong Kong, South Korea, New Zeal in addition to , Singapore, in addition to Taiwan Province of China. Southeast Europe includes Albania, Bosnia in addition to Herzegovina, Croatia, Macedonia, Serbia in addition to Montenegro, in addition to Turkey. Source: The Conference Board Global Economic Outlook 2016 (November 2015) GDP Growth, average annual % change

How to avoid an “exit” as long as emerging markets From “accumulation” to “assimilation” Despite short-term challenges, the main constraints as long as emerging markets to sustain growth are medium-term The slowing demographic dividend is unlikely to be made up as long as by faster labor productivity growth The rebalancing from (tangible) capital accumulation to skills in addition to innovation will make ongoing catch-up with mature countries possible The current slowdown in globalization (weak trade, slow FDI) is a constraining factor The nature of current innovation does not reward low-wage economies as a virtue on its own – it depends on returns on human in addition to other intangible capital Regulatory in addition to governance issues in an innovation-driven economy are much more challenging

Daddy, Freak WRTT-FM Music Director/Afternoon Host

Daddy, Freak Music Director/Afternoon Host

Daddy, Freak is from United States and they belong to WRTT-FM and they are from  Huntsville, United States got related to this Particular Journal. and Daddy, Freak deal with the subjects like Music Programming; Rock and Alternative Music

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This Particular Journal got reviewed and rated by University of Ulster and short form of this particular Institution is GB and gave this Journal an Excellent Rating.