New Approach to Economic Challenges

New Approach to Economic Challenges

Jim Yong Kim, President of the World Bank, spoke about economic challenges requiring a new approach. Growth forecasts are modest and risks are increasing. The reform agenda includes fiscal and monetary policies to support demand, more investment in infrastructure, further integration in the world e...

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Bibliographic Details
Main Author: Kim, Jim Yong
Format: Speech
Language:English
Published: World Bank, Washington, DC 2018
Subjects:
PRODUCTIVITY
ECONOMIC GROWTH
REFORM AGENDA
GROWTH DRIVERS
INEQUALITY
SHARED PROSPERITY
LABOR POLICIES
INFRASTRUCTURE
CONNECTIVITY
INTERNET ACCESS
EXTREME POVERTY
LABOR MARKET
EDUCATION
NUTRITION
STUNTING
OFFICIAL DEVELOPMENT ASSISTANCE
Online Access:http://documents.worldbank.org/curated/en/851111536672124131/Speech-by-World-Bank-Group-President-Jim-Yong-Kim-on-a-New-Approach-to-Economic-Challenges
http://hdl.handle.net/10986/30635
id okr-10986-30635
recordtype oai_dc
spelling okr-10986-306352021-05-25T09:18:17Z New Approach to Economic Challenges Kim, Jim Yong PRODUCTIVITY ECONOMIC GROWTH REFORM AGENDA GROWTH DRIVERS INEQUALITY SHARED PROSPERITY LABOR POLICIES INFRASTRUCTURE CONNECTIVITY INTERNET ACCESS EXTREME POVERTY LABOR MARKET EDUCATION NUTRITION STUNTING OFFICIAL DEVELOPMENT ASSISTANCE Jim Yong Kim, President of the World Bank, spoke about economic challenges requiring a new approach. Growth forecasts are modest and risks are increasing. The reform agenda includes fiscal and monetary policies to support demand, more investment in infrastructure, further integration in the world economy, structural reforms in labor markets, the financial sector, and the business climate to better allocate resource, and investment in innovation systems to accelerate technical change. One key drivers of discontent is rising inequality. The productivity slowdown and rising inequality are related. The challenge is to create wealth with reasonably equal distribution to sustain the momentum for reform. This will require active labor market policies and retraining. We will need infrastructure that connects people. We need to invest more in people. Concessional finance can provide the leverage for these reforms. We need to commit to creating a world in which truly there is equality of opportunity. 2018-10-31T18:22:15Z 2018-10-31T18:22:15Z 2016-07-24 Speech http://documents.worldbank.org/curated/en/851111536672124131/Speech-by-World-Bank-Group-President-Jim-Yong-Kim-on-a-New-Approach-to-Economic-Challenges http://hdl.handle.net/10986/30635 English Speech at China-MOF-OECD High-Level G20 Workshop, July 24, 2016, Chengdu, China; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Speech East Asia and Pacific China
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PRODUCTIVITY
ECONOMIC GROWTH
REFORM AGENDA
GROWTH DRIVERS
INEQUALITY
SHARED PROSPERITY
LABOR POLICIES
INFRASTRUCTURE
CONNECTIVITY
INTERNET ACCESS
EXTREME POVERTY
LABOR MARKET
EDUCATION
NUTRITION
STUNTING
OFFICIAL DEVELOPMENT ASSISTANCE
spellingShingle PRODUCTIVITY
ECONOMIC GROWTH
REFORM AGENDA
GROWTH DRIVERS
INEQUALITY
SHARED PROSPERITY
LABOR POLICIES
INFRASTRUCTURE
CONNECTIVITY
INTERNET ACCESS
EXTREME POVERTY
LABOR MARKET
EDUCATION
NUTRITION
STUNTING
OFFICIAL DEVELOPMENT ASSISTANCE
Kim, Jim Yong
New Approach to Economic Challenges
geographic_facet East Asia and Pacific
China
relation Speech at China-MOF-OECD High-Level G20 Workshop, July 24, 2016, Chengdu, China;
description Jim Yong Kim, President of the World Bank, spoke about economic challenges requiring a new approach. Growth forecasts are modest and risks are increasing. The reform agenda includes fiscal and monetary policies to support demand, more investment in infrastructure, further integration in the world economy, structural reforms in labor markets, the financial sector, and the business climate to better allocate resource, and investment in innovation systems to accelerate technical change. One key drivers of discontent is rising inequality. The productivity slowdown and rising inequality are related. The challenge is to create wealth with reasonably equal distribution to sustain the momentum for reform. This will require active labor market policies and retraining. We will need infrastructure that connects people. We need to invest more in people. Concessional finance can provide the leverage for these reforms. We need to commit to creating a world in which truly there is equality of opportunity.
format Speech
author Kim, Jim Yong
author_facet Kim, Jim Yong
author_sort Kim, Jim Yong
title New Approach to Economic Challenges
title_short New Approach to Economic Challenges
title_full New Approach to Economic Challenges
title_fullStr New Approach to Economic Challenges
title_full_unstemmed New Approach to Economic Challenges
title_sort new approach to economic challenges
publisher World Bank, Washington, DC
publishDate 2018
url http://documents.worldbank.org/curated/en/851111536672124131/Speech-by-World-Bank-Group-President-Jim-Yong-Kim-on-a-New-Approach-to-Economic-Challenges
http://hdl.handle.net/10986/30635
_version_ 1764472120101830656

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