IDEAS home Printed from https://ideas.repec.org/a/elg/ejeepi/v15y2018i2p193-207.html
   My bibliography  Save this article

Global instability and the development project: is the twenty-first century different?

Author

Listed:
  • Jayati Ghosh

    (Jawaharlal Nehru University, New Delhi, India)

Abstract

Despite a few pockets of relatively fast expansion, overall deficiency of demand characterises the world economy. The external stimulus provided by the US is declining; Europe’s net impact is negative because of the emphasis on generating current-account surpluses. While China is already a significant global economic player, it cannot adequately counter the effect of this reduced impetus from the major developed countries. Much of the developing world is relying on unsustainable debt-driven bubbles in the financially liberalised environment to generate economic recovery. Sustaining the development project will require countries to shift from export-oriented growth to more reliance on domestic demand through wage and employment increases.

Suggested Citation

  • Jayati Ghosh, 2018. "Global instability and the development project: is the twenty-first century different?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 15(2), pages 193-207, September.
    • Handle: RePEc:elg:ejeepi:v:15:y:2018:i:2:p193-207
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/journals/ejeep/15-2/ejeep.2018.02.10.xml
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kalim SIDDIQUI, 2019. "The US Economy, Global Imbalances and Recent Development: A Critical Review," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 69(2), pages 175-205, December.

    More about this item

    Keywords

    world economy; financial instability; global trade; development;
    All these keywords.

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:ejeepi:v:15:y:2018:i:2:p193-207. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Phillip Thompson (email available below). General contact details of provider: http://www.elgaronline.com/ejeep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.