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Global activity has broadly strengthened and is expected to improve further in 2014–15, according to the April 2014 WEO, with much of the impetus for growth coming from advanced economies. Although downside risks have diminished overall, lower-than-expected inflation poses risks for advanced economies, there is increased financial volatility in emerging market economies, and increases in the cost of capital will likely dampen investment and weigh on growth. Advanced economy policymakers need to avoid a premature withdrawal of monetary accommodation. Emerging market economy policymakers must adopt measures to changing fundamentals, facilitate external adjustment, further monetary policy tightening, and carry out structural reforms. The report includes a chapter that analyzes the causes of worldwide decreases in real interest rates since the 1980s and concludes that global rates can be expected to rise in the medium term, but only moderately. Another chapter examines factors behind the fluctuations in emerging market economies’ growth and concludes that strong growth in China played a key role in buffering the effects of the global financial crisis in these economies.

Banks and Banking --- Finance: General --- Inflation --- Macroeconomics --- Money and Monetary Policy --- General Financial Markets: General (includes Measurement and Data) --- Price Level --- Deflation --- Interest Rates: Determination, Term Structure, and Effects --- Financial Crises --- Commodity Markets --- Finance --- Economic & financial crises & disasters --- Investment & securities --- Monetary economics --- Emerging and frontier financial markets --- Real interest rates --- Commodity prices --- Global financial crisis of 2008-2009 --- Financial services industry --- Prices --- Interest rates --- Global Financial Crisis, 2008-2009 --- Consumption --- Economics --- United States

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One year after the deepest recession in recent history, Asia is leading the global recovery. The Regional Economic Outlook: Asia and Pacific discusses the near-term outlook for the region, as well as the medium-term policy challenges that countries face. As in many emerging and developing markets, Asia rebounded swiftly during 2009 and in the first quarter of 2010, and in the near term the region is expected to continue leading the global recovery. In the medium term, the global crisis has highlighted the importance for Asia of ensuring that private domestic demand becomes a more prominent engine of growth.

Banks and Banking --- Exports and Imports --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Trade: General --- Macroeconomics: Consumption --- Saving --- Wealth --- International Investment --- Long-term Capital Movements --- Price Level --- Deflation --- Interest Rates: Determination, Term Structure, and Effects --- International economics --- Banking --- Monetary economics --- Economic & financial crises & disasters --- Exports --- Capital inflows --- Consumption --- Central bank policy rate --- Asset prices --- Economics --- Capital movements --- Prices --- Interest rates --- China, People's Republic of

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'Wising Up to the Costs of Aging' looks at how falling fertility and rising life expectancy have combined to threaten the ability of many countries to provide a decent standard of living for the old without imposing a crushing burden on the young. In our lead article, Ronald Lee and Andrew Mason say that while population aging in rich industrial countries as well as in some middle- and lower-income countries will challenge public and private budgets in many ways, a combination of reduced consumption, postponed retirement, increased asset holdings, and greater investment in human capital should make it possible to meet this challenge without catastrophic consequences. Neil Howe and Richard Jackson publish a fascinating ranking of which countries are best and worst prepared to meet the needs of the growing wave of retirees. We also have articles on a broad range of current topics, including Middle East unemployment, the economic repercussions of the earthquake and devastating tsunami in Japan, and banking in offshore financial centers such as the Cayman Islands. Carmen Reinhart and Jacob Kirkegaard look at how governments are finding ways to manipulate markets to hold down the cost of financing huge public debts, and, in Straight Talk, the IMF’s Min Zhu talks about the long-term challenges now facing emerging markets. Prakash Loungani speaks to Nobel Prize winner George Akerlof, and we discuss with three other laureates-Michael Spence, Joseph Stiglitz, and Robert Solow-what the global economic crisis has taught us. Back to Basics explains economic models, and Picture This highlights the great variations in the cost of sending money back home.

Developing countries -- Finance -- Periodicals. --- Economic assistance -- Periodicals. --- International finance -- Periodicals. --- International finance. --- Banks and Banking --- Labor --- Macroeconomics --- Public Finance --- Demography --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Debt --- Debt Management --- Sovereign Debt --- Interest Rates: Determination, Term Structure, and Effects --- General Financial Markets: General (includes Measurement and Data) --- Foreign Exchange --- Population & demography --- Finance --- Labour --- income economics --- Public finance & taxation --- Currency --- Foreign exchange --- Public debt --- Population aging --- Debts, Public --- Interest rates --- Financial services industry --- United States