United Nations: Development Policy and Analysis Division
As the main development research division of the UN Secretariat, the
Development Policy and Analysis Division produces an array of publications and
documents that support the General Assembly and the Economic and Social Council
in their assessment of current and long-term development issues and in their
policy-setting agendas. In addition, the Division's outputs are aimed at
national policymakers, the research community and the general public, and thus
contribute to enriching academic discussions of development challenges and
providing policy recommendations.
The Division's main publications include two departmental flagships, the
World Economic and Social Survey (WESS) and the World Economic Situation and
Prospects (WESP), and thematic reports by the Committee for Development Policy.
The official documents are parliamentary in nature, consisting of specific
inputs mandated by and prepared for the General Assembly and the Economic and
Social Council. The working papers and LINK meeting reports and papers are
geared more towards the research community and the general public. This also
applies to the background papers, which provide additional in-depth analysis on
topics discussed in the main publications.
Publications
and documentation - Publications
- Official
documents
- General
Assembly
- Economic
and Social Council
- Other
publications
- Background
papers
- Other
technical documents
- Committee
for Development Policy
- Project
LINK
- Capacity
Building Projects
- Development
Policy Seminars
- MDG
GAP task force
- Data
retrieval
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WESS Archives
| UN: World Economic Situation and Prospects |
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World Economic Situation and
Prospects 2017
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World Economic Situation and
Prospects 2016
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World Economic Situation and
Prospects 2015
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World Economic Situation and
Prospects 2014
The World Economic Situation and Prospects 2014 reports that the global economy is improving
but remains vulnerable to new and old headwinds. Global economic growth is forecast to accelerate
from a sluggish 2.1 per cent in 2013 to 3.0 per cent in 2014 and 3.3 per cent in 2015. The report
warns of the risks associated with the upcoming unwinding of quantitative easing programs in major
developed economies.
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Executive Summary:
Arabic,
Chinese,
English,
French,
Russian,
Spanish
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World Economic Situation and
Prospects 2013
The World Economic Situation and Prospects 2013 presents a post-crisis world economy
still struggling with continued weakening growth of 2.2 per cent in 2012. It projects
disappointing global growth of 2.4 per cent in 2013 and 3.2 per cent in 2014 in the face
of major uncertainties and downside risks. A much slower pace of poverty reduction is predicted
in many developing countries and narrowing fiscal space for investments in the many critical
areas needed for achieving the Millennium Development Goals. The World Economic Situation
and Prospects 2013 calls for more forceful and concerted policy action at the global level,
identifying fiscal and employment policies, financial market stability, development assistance
and green growth as key challenges.
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Executive Summary:
Arabic,
Chinese,
English,
French,
Russian,
Spanish
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World Economic Situation and
Prospects 2012
The World Economic Situation and Prospects 2012 cautions that the world
economy is on the brink of another major downturn. Global economic growth started to
decelerate on a broad front in mid-2011 and is estimated to have averaged 2.8 per cent
over the last year. This economic slowdown is expected to continue into 2012 and 2013.
The United Nations baseline forecast for the growth of world gross product (WGP) is 2.6
per cent for 2012 and 3.2 per cent for 2013, which is below the pre-crisis pace of global
growth.
Executive Summary:
Arabic,
Chinese,
English,
French,
Russian,
Spanish
Download Full report in English
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World Economic Situation and
Prospects 2011
Weaknesses in major developed economies continue to drag the global
recovery and pose risks for world economic stability in the coming years. The
unprecedented scale of the policy measures taken by Governments during the early
stage of the crisis has no doubt helped stabilize financial markets and
jump-start a recovery. However, overcoming the structural problems that led to
the crisis—and those that were created by it—is proving much more challenging
and will be a lengthy process. This contrasts with the strong GDP growth in many
developing countries and economies in transition, which has contributed more
than half of the total expansion of the world economy since the third quarter of
2009.
The report highlights the continued challenge posed by high unemployment
rates in many economies and outlines a number of risks and uncertainties for the
economic outlook such as a premature withdrawal of policy stimulus, increased
exchange rate volatility and a renewed widening of global imbalances. Against
this background, several policy challenges are discussed in greater detail,
including the optimal design of fiscal policies as well as the coordination
between fiscal and monetary policies, the provision of sufficient support to
developing countries in addressing the fallout from the crisis and the
coordination of policy measures at the international level.
World Economic Situation and
Prospects 2010
The world economy is on the mend. After a
sharp, broad and synchronized global downturn in late 2008 and early 2009, an
increasing number of countries have registered positive quarterly growth of
gross domestic product (GDP), along with a notable recovery in international
trade and global industrial production. World equity markets have also rebounded
and risk premiums on borrowing have fallen.
… but recovery is fragile
World Economic Situation
and Prospects 2009
It was never meant to happen again, but the world economy is now mired in the
most severe financial crisis since the Great Depression. In little over a year,
the mid-2007 subprime mortgage debacle in the United States of America has
developed into a global financial crisis and started to move the global economy
into a recession. Aggressive monetary policy action in the United States and
massive liquidity injections by the central banks of the major developed
countries were unable to avert this crisis. Several major financial institutions
in the United States and Europe have failed, and stock market and commodity
prices have collapsed and become highly volatile. Interbank lending in most
developed countries has come to a virtual standstill, and the spread between the
interest rate on interbank loans and treasury bills has surged to the highest
level in decades. Retail businesses and industrial firms, both large and small,
are finding it increasingly difficult to obtain credit as banks have become
reluctant to lend, even to long-time customers. In October 2008, the financial
crisis escalated further with sharp falls on stock markets in both developed and
emerging economies. Many countries experienced their worst ever weekly sell off
in equity markets
World
Economic Situation and Prospects
as of mid-2008
In the wake of numerous challenges, the world economy is teetering on the brink of a severe global
economic downturn. The deepening credit crisis in major developed market economies, triggered by
the continuing housing slump, the declining value of the United States dollar vis-à-vis other major
currencies, persisting global imbalances, and soaring oil and non-oil commodity prices all pose
considerable risks to economic growth in both developed and developing economies.
Additionally, the unfolding food crisis, which is not only a grave humanitarian issue, but
also a serious threat to social and political stability in some developing economies, endangers
the achievement of the millennium development goals (MDGs) by reversing some of the progress
towards those goals made so far...
World
Economic Situation and Prospects
2008
Official documents for the General
Assembly
World Economic Situation and Prospects 2007
After a solid and broad-based growth for three consecutive years, the world
economy is expected to decelerate in 2007, mainly dragged by a slowdown of the
United States. Growth in Europe and Japan, meanwhile, will not be sufficient for
these economies to act as locomotives of global growth. The outlook remains
mostly positive for developing countries, but a degree of moderation is also
expected. Sustained high growth in China, India and a few other major emerging
economies seems to have engendered synergy among developing countries so that
growth in this group is more endogenous.
However, a large number of developing
countries remain highly vulnerable to the vicissitudes of commodity prices and
the volatility of international financial markets. The report highlights the
need for greater employment growth, which has not kept pace with output growth.
The global economic outlook also encompasses a number of important downside
risks: bursts in the housing bubbles in a number of countries, uncertainties in
oil prices and mounting global imbalances. The report calls for international
macroeconomic policy coordination in order to facilitate an orderly adjustment
of global imbalances.
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Report
Executive Summary: (English) -
Arabic - Chinese - French - Russian - Spanish
Global outlook: (English),
(Arabic),
(Chinese),
(French),
(Russian),
(Spanish)
Trade and Investment -
Europe
Press Conference
Presentation
Background paper:
Barry Eichengreen, Should There
Be a Coordinated Response to the Problem of Global Imbalances? Can There Be
One?
World Economic Situation and Prospects as of
mid-2006
- English - French - Spanish
Measured by such indicators as the international prices of commodities, the costs of external
fi nancing, capital fl ows and trade fl ows, many developing countries and economies in transition
are still facing a generally auspicious international economic environment (see table 3). In the
outlook, however, such an environment will deteriorate somewhat: the fact that monetary conditions
in major economies are tightening, real interest rates in global capital markets are rising,
and the global imbalances are still widening, may lead to a disorderly adjustment and instability
for global currency and fi nancial markets.
Press Releases:
- English - French
Past issues of WESS and WESP since 1994
Publications and reports by
year
Working paper series
Order this publication
Sales No:07.II.C.2 -- ISBN:978-92-1109153-3
(For more info, email: wesp@un.org)
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World Economic Situation and Prospects 2006
The world economy is expected to continue to grow at a rate of 3 per cent
during 2006. The United States economy remains the main engine of global
economic growth, but the growth of China, India and a few other large developing
economies is becoming increasingly important. On average, developing economies
are expected to expand at a rate of 5.6 per cent and the economies in transition
at 5.9 per cent, despite the fact that these economies may face larger
challenges during 2006.
Driven by higher oil prices, inflation rates have
edged up worldwide. Core inflation rates, which exclude the prices of energy and
food, have been more stable, indicating that the pass-through of higher oil
prices to overall inflation is limited.
Executive Summary
(English), Arabic, Chinese, French, Russian, Spanish
Download Full Report
(182 pages, 1.85 MB)
Press Release (English), French, Spanish
Press Conference
Presentation
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Sales Number: E.06.II.C.2 ISBN:
92-1-109150-0
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World Economic Situation and Prospects 2005
The continued recovery of the world economy resulted in unusually widespread
growth in 2004, but a modest slowdown in all regions is expected in 2005,
according to projections contained in World Economic Situation and Prospects
2005 (WESP 2005). Developing countries grew at the fastest rate in two decades
in 2004. In addition to the stimulus provided by the United States, China is
making an increasing contribution to global economic growth...
One of the universal weaknesses in the world economy continues to be the slow
growth of employment and the persistence of high rates of unemployment and underemployment
in most developing countries. Unless improved economic growth is reflected
in increased employment, it will prove difficult to reduce poverty. Even in the most rapidly
growing region, East Asia, unemployment and underemployment remain problems in
several economies. The need to absorb the millions of surplus workers in the agriculture
sector and in State-owned enterprises in China is a special case, but lack of employment is
also a problem in other countries in the region.
Executive Summary
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(138
pages, 588kb)
Press Release (English),
French,
Spanish
Press Conference
Presentation
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World Economic Situation and Prospects 2004
Many of the forces
responsible for dramatic growth in the previous decade are now absent or not
strong enough to produce such robust performance. While global trade is
projected by the World Economic Situation and Prospects 2004 (WESP 2004) to grow
by seven per cent this year, it is unlikely that the buoyancy of pre-2000 years
will be repeated, especially given setbacks in the Doha round of trade
negotiations. The recovery of foreign direct investment will be similarly
subdued, as will rebounding investment in information technologies. And in 2004,
the dampening effects of geopolitical tensions and threats of international
terrorism are more prevalent than in the years immediately before
2001.Therefore, the report urge careful measures to nurture the recovery and
avoid a precipitous unwinding of international imbalances
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Press Release (English) ,
Spanish,
French
Press Conference Presentation
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SALES No:E.04.II.C.2 ISBN:9211091462
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World Economic Situation and Prospects 2003
Full document (English)
Sales No. E.03.II.C.2; ISBN 92-1-109144-6).
Press Release
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publication
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World Economic Situation and Prospects 2002
Full document (English)
Press Release
Order this
publication Sales No.E.02II.C.2 ISBN:92-1-109-141-1
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World Economic
Situation and prospects 2001
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World
Economic Situation and Prospects for 2000
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World Economic Situation and Prospects for 1999
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