A Quote by Janet Yellen
A pickup in demand in many advanced economies and a stabilization in commodity prices should, in turn, boost the growth prospects of emerging market economies.
Related Quotes
In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have had to rely once again on domestic demand. This is always a difficult task, given the temptation to over-stimulate.
There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.
My view is that the U.S. market will eventually join the emerging markets on the downside because if you take a bearish view about emerging economies, you cannot be too optimistic about the U.S. because for many U.S. corporations, 50 percent or more of their profits come from emerging economies.
Globalisation began what should be called the Great Convergence, creating a globalising labour market in which wages in emerging market economies slowly converge with wages in rich economies, generating a steady drop in real wages across Europe.
Emerging market and developing economies have benefited from monetary easing in major economies but have also faced volatile risk sentiment tied to trade tensions.
To ensure stable and sustainable economic growth, world leaders must re-examine the international rules of the monetary game, with advanced and emerging economies alike adopting more mutually beneficial monetary policies.
Growing economies are critical; we will never be able to end poverty unless economies are growing. We also need to find ways of growing economies so that the growth creates good jobs, especially for young people, especially for women, especially for the poorest who have been excluded from the economic system.
Given the stake that both the U.S. and Europe have in stabilising and sustaining global growth, their policies should be aimed at ensuring China, India, and other newly industrialising Asian economies can take up the slack created by the slowdown in OECD economies.
The basic aggregate measure of gearing or leverage is telling us that today's advanced economies' operating systems are more heavily dependent on private sector credit than anything we have ever seen before. Furthermore, this pattern is seen across all the advanced economies, and isn't just a feature of some special subset (e.g. the Anglo-Saxons).
The poor don't live in functional market economies as the rest of us do, but in political economies where corruption and broken systems extend from local government to moneylenders.
Growth in productivity has diverged from growth in the share that working people can expect right across advanced economies, but this trend started earlier and has been more pronounced in the U.S.
Global fuel and consumption, however, is projected to increase by 100 to 150 percent over the next 20 years, driven largely by the rapidly growing Chinese and Indian economies; and this growth and this increase in demand will force prices even higher.
The global realignment is accelerating the migration of growth and wealth dynamics from the industrial world to the larger emerging economies.
The biggest threat to advanced economies is that debt will accumulate until the overhang weighs on growth.
Emerging market economies have long grappled with the challenges posed by large and volatile cross-border capital flows.
I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.
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