Inclusive Growth in G20 Countries

The recent global financial crisis not only changed the global economic order, it changed the way we think about many aspects of that order. While the search for answers continues, it is clear that emerging countries and the rest of the developing world have a large stake in the restoration of growth momentum in industrial countries.  As Prof. Mike Spence, the Nobel Laureate in Economics, Professor Emeritus at New York University's Stern School of Business points out in his speech made at the Korea-IMF Conference on July 12-13, 2010 that the challenge is to maintain "balanced global growth" along with an "open macroeconomy The Deputy Chairman of India's Planning Commission, Montek Ahluwalia, suggested it would be important to bring developing countries’ experience and interest to bear on the discussion and to highlight the need for advanced countries to move from short term crisis management for a new growth paradigm.