While still disappointing, the global economy is moving forward, at multiple speeds. These multiple speeds reflect different paths towards self-sustained growth, with each path carrying its own mix of risks.
Legal systems provide the basic institutions for firms and markets to operate. Their quality can have
important consequences on the size distribution of firms, who rely on them for contract enforcement.
Recent regulatory reforms, such as new or restructured regulators for water, energy and transport, need to be effectively implemented. The competition authority’s extended powers to query anti-competitive measures should be actively used.