There is concern about the global growth environment: there is fear of secular stagnation in advanced economies and worry about slowing potential in key emerging markets. Countries recognize that structural reforms are needed to raise medium-run growth prospects. Yet they sometimes hold back because there are winners and losers from reforms in the short run, making reforms difficult to sell politically. What does the cross-country experience tell us about the impact of structural reforms on income distribution and growth in the short run and medium run? What are the lessons? Are countries justified in their optimism about the positive growth impacts of structural reforms and their fears about the negative distributional impact? Are there better ways to design structural reforms than in the past? This session will examine the reforms needed across the spectrum-product market regulation, labor market reforms, education, public sector efficiency-to boost global growth prospects. It will also explore past experiences to draw lessons for reform design in terms of its impact on both growth and equity.
Executive Director of Oxfam International
Eurogroup President, Chair of the Board of Governors of the European Stability Mechanism
BBC's New York Business Correspondent
University Professor at Columbia University, Nobel Prize recipient
Secretary of Finance and Public Credit of Mexico
Deputy Managing Director of the International Monetary Fund