The COVID-19 pandemic has caused major disruptions in the global economy that could have lasting adverse effects. If history is any guide, the global economy is heading for a decade of growth disappointments. Uncertainty about the post-pandemic economic landscape and policies has discouraged investment; disruptions to education have slowed human capital accumulation; concerns about the viability of global value chains and the course of the pandemic have weighed on trade and tourism.
In the context of weak fiscal positions and elevated debt, institutional reforms to spur growth will be particularly important. A comprehensive policy effort is needed to rekindle robust, sustainable, and equitable growth. A package of reforms to increase investment in human and physical capital and raise female labor force participation could help reverse the expected impact of the pandemic on potential growth in emerging markets and developing economies over the next decade.
Join this key discussion on the reforms needed to spur growth following the economic damage caused by the COVID-19 pandemic. The conversation with experts will touch on many of the themes and findings from the latest Global Economic Prospects report, launched by the World Bank.