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Another legacy of the COVID-19 pandemic: Income divergence

The uneven economic recovery from the pandemic-induced global recession of 2020 is expected to disrupt a multi-decade trend of per capita income convergence between advanced and emerging market and developing economies (EMDEs). This stands in contrast to the global recession following the global fin...

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Detalles Bibliográficos
Autores principales: Adarov, Amat, Guénette, Justin Damien, Ohnsorge, Franziska
Formato: Online Artículo Texto
Lenguaje:English
Publicado: The World Bank. Published by Elsevier Inc on behalf of The Society for Policy Modeling. 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9472477/
https://www.ncbi.nlm.nih.gov/pubmed/36118905
http://dx.doi.org/10.1016/j.jpolmod.2022.09.013
Descripción
Sumario:The uneven economic recovery from the pandemic-induced global recession of 2020 is expected to disrupt a multi-decade trend of per capita income convergence between advanced and emerging market and developing economies (EMDEs). This stands in contrast to the global recession following the global financial crisis. Should downside risks to the global recovery, in particular financial market stress, materialize, they are likely to set back growth in EMDEs more than in advanced economies in part because of the more limited policy space remaining in EMDEs, and would further widen per capita income divergence.