General Assembly - UN Documents
General Assembly - UN Documents
General Assembly - UN Documents
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A/CONF.216/PC/2<br />
unequally shared between and within countries, many countries are not on track for<br />
achieving key Millennium Development Goals, and most of the environmental<br />
indicators have continued to deteriorate.<br />
Economic<br />
11. On the positive side is the acceleration of economic growth in developing and<br />
emerging economies since the mid-1990s (see figure), especially in several large<br />
developing countries that cover the majority of the world’s population. But this<br />
pattern is far from universal. Sub-Saharan Africa has fallen further behind the other<br />
regions in terms of per capita income, and the growth momentum also remains slow<br />
in other least developed countries, landlocked countries and small island developing<br />
States. The ongoing global economic crisis has substantially slowed growth in many<br />
developing countries, although the robust growth of key emerging economies has<br />
prevented an even deeper global recession.<br />
12. The growth momentum has been especially notable in East Asian countries,<br />
and its contributory factors have been debated extensively in the professional<br />
literature. A recent review 4 traces this success to strong and competent State<br />
institutions that were able to channel investment into critical infrastructure and<br />
research and development, create a conducive policy environment for<br />
entrepreneurship, promote high savings and investment, including in education, and<br />
stimulate exports, as well as integrate into international markets.<br />
Figure<br />
World economic growth<br />
Annual change (per cent)<br />
Percentage<br />
Source: International Monetary Fund, World Economic Outlook Database, April 2008.<br />
__________________<br />
4 See, for example, Joseph E. Stiglitz and Shahid Yusuf, eds., Rethinking the East Asian Miracle<br />
(Washington, D.C., World Bank; New York, Oxford University Press, 2001).<br />
6<br />
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