By Mario Pezzini, Director, OECD Development Centre, and Special Advisor to the OECD Secretary-General on Development
This blog is part of an ongoing series evaluating
various facets of Development in Transition.
Perspectives on Global Development 2019: Rethinking Development Strategies
adds to this discussion
What’s the path to sustainable development? In this era of the Sustainable Development Goals (SDGs) — when all countries face both new challenges and new opportunities for improving the lives of their citizens in inclusive, holistic and environmentally sustainable ways – the question remains as relevant as ever.
Some may think the question was answered in the 2000s when we witnessed the transformation of the global economic geography. Whereas only 12 developing countries in the 1990s managed to double the OECD per-capita growth rates, 83 developing countries managed to do so a decade later. By 2008, developing and emerging economies made up 50% of the global economy for the first time. And the 15-fold surge in South-South trade linkages from 1990 to 2016 and the jump in development finance from USD 3.2 billion in 2003 go USD 15.6 billion in 2012 provided by large emerging economies, notably China, are clear proof points of this new economic geography.
Yet, this upswing in global economic growth masks two underlying issues that we cannot ignore on the road to sustainable development.