The IMF a convert to Growth Diagnostics?

It’s surprising how the language of growth diagnostics and binding constraints springs up in all kinds of unexpected places.  The latest example is the IMF’s new report on jobs and growth. The IMF’s analysts say all the usual things about the primacy of macroeconomic stability and fiscal sustainability – no surprise there.  But then we get a plea for contextual analysis and recipes that sounds, to this set of ears, at least quite pleasing.  “There is scope,” the IMF says, for:

More systematic diagnostic analysis of the growth and employment challenges and the identification of the most binding constraints to inclusive growth and jobs so as to provide more tailored and relevant policy advice.

In bureaucratese, “there is scope” means: “gee, we sort of forgot about this until now, didn’t we?”

Better late than never. 

 

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[guabin]

But for China and Venezuela under the late President Chávez, most of Latin America and the Caribbean would still be showing the 'benevolent' effects of the IMF's solicitous ministrations.

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[GambarAnimasi]

But for China and Venezuela under the late President Chávez, most of Latin America and the Caribbean would still be showing the 'benevolent' effects of the IMF's solicitous ministrations.

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