Major Findings, Challenges and Opportunities

Abstract

The large universe of less developed economies — the slow-growing low-income and low-middle-income countries — have been unable to catch up with the more dynamic industrialized countries. Divergences in economic performance among the developing economies are so high that for many their per capita incomes are lower than they were a few decades ago. The drivers of growth, the diversification of the production structure — shifting capital and labor from low- to high-productivity sectors — policies and the processes; and the institutions appropriate for implementing, administering and enforcing such policies are arguably the common problems.