LEADER 05891oam 22006495 450 001 9910797217603321 005 20221215203027.0 010 $a1-4648-0485-0 024 7 $a10.1596/978-1-4648-0483-0 035 $a(CKB)3710000000440157 035 $a(EBL)2081829 035 $a(SSID)ssj0001558731 035 $a(PQKBManifestationID)16183203 035 $a(PQKBTitleCode)TC0001558731 035 $a(PQKBWorkID)14819283 035 $a(PQKB)10255229 035 $a(MiAaPQ)EBC2081829 035 $a(Au-PeEL)EBL2081829 035 $a(CaPaEBR)ebr11070634 035 $a(CaONFJC)MIL809571 035 $a(OCoLC)913375330 035 $a(The World Bank)210483 035 $a(US-djbf)210483 035 $a(EXLCZ)993710000000440157 100 $a20020129d2015 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aGlobal Economic Prospects, June 2015 : $eThe Global Economy in Transition 210 1$aWashington, D.C.,$cThe World Bank,$d2015. 215 $a1 online resource (194 pages) 225 1 $aGlobal Economic Prospects ;$vv.2 300 $aDescription based upon print version of record. 311 $a1-4648-0483-4 327 $aCover; Contents; Foreword; Acknowledgments; Abbreviations; Chapter 1 Global Outlook: The Global Economy in Transition; Summary and Key Messages; Tables; 1.1 The global outlook in summary; Figures; 1.1 Global activity; Recent Developments and Outlook in Major Economies; 1.2 Global trends and policy challenges; 1.3 United States; 1.4 United Kingdom; 1.5 Euro Area; Global Trends and Spillovers; 1.6 Japan; 1.7 China; 1.8 Implications of the European Central Bank's quantitative easing for global financial conditions; Boxes 327 $a1.1 Negative Interest Rates in Europe: A Glance at Their Causes and Implications B1.1.1 Negative interest rates in Europe: Context; B 1.1.2 Negative interest rates in Europe: Some consequences; 1.9 Implications of the European Central Bank's quantitative easing for developing countries; 1.10 Implications of launch of monetary tightening in the United States; 1.11 Developing countries' capital flows and borrowing costs; 1.12 Oil markets; Recent Developments and Outlook in Developing Countries; 1.2 Low Oil Prices in Perspective; B 1.2.2 Global growth and inflation around oil price declines 327 $aB1.2.3 Financial market developments around oil price declines B1.2.4 The new oil map; 1.13 Oil price volatility and non-oil commodity prices; 1.14 Global trade; 1.15 Developing and emerging-market growth; Risks to the Outlook; 1.16 Terms of trade effect on GDP; 1.17 Developing country currencies; 1.18 Exchange rates and competitiveness in major emerging economies; 1.19 Inflation in developing countries; 1.20 Private debt in developing countries; 1.21 Risk of a rough awakening; Policy Challenges; 1.22 Emerging market credit ratings; 1.23 Risk of excessive U.S. dollar appreciation 327 $a1.24 Risk of stagnation and deflation in the Euro Area 1.25 Risk of a hard landing in China; 1.26 Monetary policy in developing countries; 1.27 Fiscal pressures; 1.28 Income convergence; 1.29 Structural reforms; 1.3 Recent Developments in Emerging and Developing Country Labor Markets; B1.3.1 Global unemployment rate; B1.3.2 Unemployment rate in developing and advanced economies; B1.3.3 Regional unemployment rate; B1.3.4 Change in employment to population ratio; B1.3.5 Labor force participation rate 327 $aB1.3.6 Changes in unemployment rate and GDP growth in Great Recession vs. previous recessions in developing economiesB1.3.7 Estimates of Okun's Law coeffcients for advanced, emerging, and frontier market economies; B1.3.8 Real GDP growth and change in unemployment rates in developing economies, 2000-14; B1.3.9 Estimated informal employment shares in selected countries, 2011; B1.3.10 Global average annual real wage growth; B1.3.11 Real wage growth in selected developing economies; B1.3.12 Enterprise Survey results on key business constraints, 2013; References; 1.30 Fuel subsidies 327 $aSpecial Feature 1 Hoping for the Best, Preparing for the Worst: Risks around U.S. Rate Liftoff and Policy Options 330 3 $aGlobal growth is expected to be 2.8 percent in 2015, but is expected to pick up to 3.2 percent in 2016-17. Growth in developing countries and some high-income countries is set to disappoint again this year. The prospect of rising borrowing costs will compound the challenges many developing countries are facing as they adapt to an era of low commodity prices. Risks to this outlook remain tilted to the downside. This edition of Global Economic Prospects includes two Special Features that analyze the policy challenges raised by the two transitions in developing countries: the risks associated with the first U.S. central bank interest rate increase since 2006 and the implications of persistently low commodity prices for low-income countries. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by developing countries while the June edition contains shorter analytical pieces. 410 0$aWorld Bank e-Library. 606 $aEconomic forecasting$zDeveloping countries 606 $aEconomic forecasting 607 $aDeveloping countries$xEconomic conditions 615 0$aEconomic forecasting 615 0$aEconomic forecasting. 676 $a338.5443091724 712 02$aWorld Bank. 801 0$bDJBF 801 1$bDJBF 906 $aBOOK 912 $a9910797217603321 996 $aGlobal Economic Prospects, June 2015$93850484 997 $aUNINA