Economic Policy Key to Growth
May 17, 2011
GOOD economic policies have changed the world, the International Monetary Fund argues. It says growth is not only more rapid, but more consistent as the global business cycle has been transformed.In the first extracts of its half-yearly World Economic Outlook, to be released next week, the IMF argues that the robust, widespread and stable growth of recent years is no accident, but the result of economics at work -- and business can expect much more.``Reduced output volatility and the associated increase in the durability of expansions largely reflect sources that are likely to prove persistent,'' the IMF argues.``In particular, improvements in the conduct of monetary and fiscal policy, as well as in broader institutional quality, are all expected to keep output volatility low going forward.
