Otaviano Canuto
The recovery in advanced economies is now exhibiting several signs of fragility and the medium-term growth prospects for
these economies also look difficult. Could developing economies “switch over” to become locomotives in the global economy,
providing a countervailing force against downward trends? The view taken here says, yes, as long as appropriate domestic
policies and reforms are pursued in developing countries.
Toward a Switchover of Locomotives in the Global Economy. Economic Premise No. 33, September 2010.