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New waves of growth in the developed world
Author(s) -
Purdy Mark,
Davarzani Ladan,
Peppes Athena
Publication year - 2011
Publication title -
thunderbird international business review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.553
H-Index - 37
eISSN - 1520-6874
pISSN - 1096-4762
DOI - 10.1002/tie.20399
Subject(s) - recession , action (physics) , business , emerging markets , economics , market economy , development economics , economic policy , finance , macroeconomics , physics , quantum mechanics
Following the Great Recession, many commentators are already forecasting a bleak economic future for developed economies over the next decade. Our research suggests, however, that there are ample opportunities for new growth and jobs in mature economies. Policymakers and business leaders can mine rich seams of growth through imaginative responses to oft‐perceived challenges around aging populations, the transition to a low‐carbon future, rising demands for public services, new information‐based services, and growing demands in the emerging world for social and physical infrastructure. However, such growth will fail to materialize unless action is taken today to secure the necessary supply‐side foundations for longer‐term growth. © 2011 Wiley Periodicals, Inc.