World economy will grow by 3.7 per cent in 2014 and 2015; an improvement on the 3.1 per cent last year, but still a sluggish recovery by historical standards. Growth prospects have improved in advanced economies, particularly in the US, but have deteriorated in a number of emerging market economies....

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The National Institute Economic Review is the quarterly journal of the National Institute of Economic and Social Research (NIESR). Published in February, May, August and November, it is available from Sage Publications Ltd (http://ner.sagepub.com./) at�subscription@sagepub.co.uk.

The National Institute Economic Review is the quarterly journal of the National Institute of Economic and Social Research (NIESR). Published in February, May, August and November, it is available from Sage Publications Ltd (http://ner.sagepub.com./) at�subscription@sagepub.co.uk.

The National Institute Economic Review is the quarterly journal of the National Institute of Economic and Social Research (NIESR). Published in February, May, August and November, it is available from Sage Publications Ltd (http://ner.sagepub.com./) at�subscription@sagepub.co.uk.

This item requires a subscription to National Institute Economic Review.

•  The world economy will grow by 3 per cent this year, and by 3.8 per cent in 2014. •  Growth has picked up slightly in advanced economies, while it has slowed in in key emerging market economies. •  Despite the clear improvements in some major economies, the risks to global growth are...