Productivity increases and efficient investment are essential conditions for rapid growth and poverty reduction. Establishment of those conditions requires improvement of the investment climate--that is, the policy and institutional environment that fosters entrepreneurship and productive investment. Global Economic Prospects 2003 analyzes both the global and the national dimensions of the investment climate for developing countries. This thirteenth annual edition: * explores the current state ofthe world economy and how it affects developing countries' exports, access to capital, and growth prospects * examines recent changes in the organization of global business, notably the proliferation of multinational companies and associated production networks * argues that sound national policies, particularly to encourage competition, are needed for countries to reap the benefits of globalization * discusses ways that the international community might help developing...

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