Summary: The aim of this edition of global development horizons is to build scenarios for the global economy over, roughly, the next two decades, with special focus given to saving and investment. Developing countries' share in global investment has grown from less than 20 percent to almost one-half in the past 15 years. A similar pattern is observed for saving. Only a minor part of these trends in saving and investment is due to the consequences of the 2008 global financial crisis. Most of the changes have emerged as a result of entrenched economic and demographic forces. Productivity catch-up, together with increasing integration into global markets, sound macroeconomic policies, and improved education and health, have contributed to an acceleration of growth and large increases in investment and saving rates in many developing countries. A further boost has been provided by the demographic dividend, which has reached peak levels in many countries. The rising investment and saving rates within developing countries, together with the expanding share of developing countries in global Gross Domestic Product (GDP), have led to a spectacular dominance by developing countries in global investment dynamics. Two-thirds of the growth in global investment over the last ten years has originated in developing countries.
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