This paper addresses the question of whether the medium- and long-term growth potential of the advanced economies has been impaired by the global financial crisis. It evidence from the Great Despression of the 1930s to illuminate the prospects, concluding the following. First, the impact of weak...

Among fast growing developing countries, India is distinctive for the role of the service sector. However, sceptics have raised doubts about both the quality and sustainability of the increase in service sector activity and its implications for economic development. Using National Accounts...