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OECD Economic Outlook,Volume 2012/1 OECD 2012191 Chapter 4 MEDIUM AND LONG-TERM SCENARIOS FOR global growth AND IMBALANCES4. MEDIUM AND LONG-TERM SCENARIOS FOR global growth AND IMBALANCESOECD ECONOMIC OUTLOOK, VOLUME 2012/1 OECD 2012 PRELIMINARY VERSION192 Introduction and summaryThis chapter considerslong-term prospects andrisks for the world economyMany countries face a long period of adjustment to erase the legaciesof the crisis, particularly high unemployment, excess capacity and largefiscal imbalances. Further ahead, demographic changes, including ageing,and fundamental forces of economic convergence will bring aboutmassive shifts in the composition of global GDP. To illustrate the natureand scale of some of the policy challenges posed by these developments,this chapter describes MEDIUM and LONG-TERM SCENARIOS for OECD andnon-OECD G20 countries using a new modelling framework to extend theshort-term projections described in Chapters 1 to 3.
4. medium and long-term scenarios for global growth and imbalances (2012).
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