The Trade and Development Report 2014: Global Governance and Policy Space for Development
UNCTAD – Report by the secretariat of the United Nations Conference on Trade and Development
September 2014 :: 242 pages
UN Symbol: UNCTAD/TDR/2014
http://unctad.org/en/PublicationsLibrary/tdr2014_en.pdf

This report examines recent trends in the global economy, with a focus on growth, trade and commodity prices. The Report highlights that, six years after the onset of the global economic and financial crisis, the world economy has not yet established a new sustainable growth regime. With an expected growth between 2.5 and 3 per cent in 2014, the recovery of global output remains weak. Furthermore, the policies supporting the recovery are frequently inadequate, as they do not address the rise of income inequality, the steady erosion of policy space along with the diminishing economic role of governments and the primacy of the financial sector of the economy, which are the root causes of the crisis of 2008. Putting the world economy on the path of sustainable growth requires strengthening domestic and regional demand, with a reliance on better income distribution rather than new financial bubbles.

Media Release
Developing countries need sufficient policy space to advance post-2015 development agenda, UNCTAD report says
10 September 2014
With a new set of wide-ranging sustainable development goals already tabled in New York, a post-2015 development agenda will not be feasible without the availability of more instruments and greater flexibilities in policymaking, say UNCTAD in its Trade and Development Report 2014, launched today.
Key conclusions of this years’ report:
:: The ‘new normal’ in advanced countries is neither new nor normal and risks repeating past policy mistakes.
:: Developing countries need sufficient space to make macro and industrial policies work effectively to support structural transformation.
:: International and national action needed to combat tax evasion and avoidance.
:: Multilateral institutions need to focus on promoting the public interest as much as boosting market confidence and reducing financial risks.