Global Economic Prospects; the world in transition - a World Bank Report

Global Economic Prospects, June 2015 : The Global Economy in Transition

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Published: 2015-06

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Global growth is expected to be 2.8 percent in 2015, but is expected to pick up to 3.2 percent in 2016–17. Growth in developing countries and some high-income countries is set to disappoint again this year. The prospect of rising borrowing costs will compound the challenges many developing countries are facing as they adapt to an era of low commodity prices. Risks to this outlook remain tilted to the downside. This edition of Global Economic Prospects includes two Special Features that analyze the policy challenges raised by the two transitions in developing countries: the risks associated with the first U.S. central bank interest rate increase since 2006 and the implications of persistently low commodity prices for low-income countries. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by developing countries while the June edition contains shorter analytical pieces.

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“World Bank Group. 2015. Global Economic Prospects, June 2015 : The Global Economy in Transition. Washington, DC: World Bank. © World Bank. https://openknowledge.worldbank.org/handle/10986/21999 License: CC BY 3.0 IGO.”

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http://hdl.handle.net/10986/21999

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Global Economic Prospects

Liberdade economica no mundo em recuo...

Economic Freedom Suffers Global Setback

Brief presentation:
The Economic Freedom of the World: 2010 Annual Report, released this week, revealed the very first regression in economic freedom since the inception of the index:
This year's report notes that economic freedom suffered its first setback in decades. The average economic freedom score rose from 5.55 (out of 10) in 1980 to 6.70 in 2007, but fell back to 6.67 in 2008, the most recent year for which data are available. Of the 123 countries with chain-linked ratings in 2007 and 2008, 88 exhibited rating decreases and only 35 recorded rating increases. In this year's index, Hong Kong retains the highest rating for economic freedom, 9.05 out of 10, followed by Singapore, New Zealand, Switzerland, Chile, the United States, Canada, Australia, Mauritius, and the United Kingdom.
Individual chapters are available for download for free in PDF format at our website, where you can also find an interactive map and PDF versions of previous editions.

Overall presentation:
Economic Freedom of the World: 2010 Annual Report
By James Gwartney, Joshua Hall, and Robert Lawson and contributions from Christopher J. Coyne, John W. Dawson, Horst Feldmann, John Levendis, Russell L. Stobel, and Edward Peter Stringham This year's report notes that economic freedom suffered its first setback in decades. The average economic freedom score rose from 5.55 (out of 10) in 1980 to 6.70 in 2007, but fell back to 6.67 in 2008, the most recent year for which data are available. Of the 123 countries with chain-linked ratings in 2007 and 2008, 88 exhibited rating decreases and only 35 recorded rating increases. In this year’s index, Hong Kong retains the highest rating for economic freedom, 9.05 out of 10, followed by Singapore, New Zealand, Switzerland, Chile, the United States, Canada, Australia, Mauritius, and the United Kingdom.

This year's report also contains new research showing the impact of economic freedom on unemployment rates and homicides. According to Horst Feldmann, more economic freedom appears to reduce joblessness, and the magnitude of the effect seems to be substantial, especially among young people. Edward Peter Stringham and John Levendis examine the effect of economic freedom on rates of homicide in Venezuela, Colombia, South Africa, Latvia, and Lithuania. The results suggest that increases in economic freedom lead to decreases in homicides.

The first Economic Freedom of the World Report, published in 1996, was the result of a decade of research by a team which included several Nobel Laureates and over 60 other leading scholars in a broad range of fields, from economics to political science, and from law to philosophy. This is the 14th edition of Economic Freedom of the World and this year's publication ranks 141 nations for 2008, the most recent year for which data are available.

Contents:
Table of Contents [pdf, 36.6Kb]
Executive Summary [pdf, 93.5Kb]
Chapter 1 [pdf, 588Kb]
Chapter 2, Country Data Tables [pdf, 954Kb]
Chapter 3 [pdf, 234Kb]
Chapter 4 [pdf, 472Kb]
Chapter 5 [pdf, 345Kb]
Chapter 6 [pdf, 337Kb]
Appendix [pdf, 196Kb]
Acknowledgments [pdf, 61.8Kb]