News stories by Yilmaz Akyuz, page 2

GENEVA, Feb 16 (IPS) - After a series of crises with severe economic and social consequences in the 1990s and early 2000s, emerging and developing economies have become even more closely integrated into what is widely recognised as an inherently unstable international financial system. 

GENEVA, Jul 16 (IPS) - Since the onset of the crisis, the South Centre has argued that policy responses to the crisis by the European Union and the United States has suffered from serious shortcomings that would delay recovery and entail unnecessary losses of income and jobs, and also endanger future growth and stability. 

GENEVA, Mar 24 (IPS) - The United Nations' Post-2015 Development Agenda should not simply extend the Millennium Development Goals (MDGs), or reformulate the goals, but focus instead on global systemic reforms and secure an accommodating international environment for sustainable development.

GENEVA, Mar 01 (IPS) - Before the world economy has been able to fully recover from the crisis that began more than five years ago, there is a widespread fear that we may be poised for yet another crisis, this time in emerging economies.

GENEVA, Jun 10 (IPS) - More than five years since the outbreak of the global financial crisis, the world economy has shown few signs of stabilising and moving towards strong and sustained growth.

GENEVA, Nov 22 (IPS) - There are numerous reasons to believe that the forces that have been driving growth in developing and emerging economies since 2009 cannot be sustained over the medium term. At the same time, it is impossible to return to the extremely favourable international economic conditions that prevailed before the eruption of the global crisis.

GENEVA, Aug 09 (IPS) - Growth in developing economies (DEs) has accelerated significantly in the new millennium.

Global economic conditions continue to have a strong bearing on production, trade and investment in developing economies. In this respect the current landscape is not very encouraging. After three years of recovery the world economy still remains highly fragile. The short-term outlook predicts contraction in several advanced economies in Europe. Growth in others, including the U.S., is weak and erratic. But more importantly, medium term prospects are bleak almost everywhere, writes Yilmaz Akyuz, chief economist of the South Centre.

Growth in developing economies (DEs) has accelerated significantly in the new millennium. Whereas in the 1980s and 1990s their average growth was barely higher than that of advanced economies (AEs), from the early years of the 2000s until the global crisis, the difference shot up to 5 percentage points. It widened further during 2008-11 with the collapse in AEs. Although there is diversity, the acceleration is broad-based with all developing regions enjoying faster growth than in the past. The notable exception is China, which has grown in the new millennium at broadly the same (albeit rapid) pace as in the 1990s, writes Yilmaz Akyuz, chief economist of the South Centre, Geneva.

It is growing increasingly likely that the world will face renewed risks of instability and slowdown before fully recovering from the so-called Great Recession. This is largely because the fragility and imbalances that have built up over recent years as a result of misguided policies in the US and Europe cannot be easily undone, regardless of the policy pursued today, writes Ylmaz Akyuz, the Chief Economist of the South Centre.