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Control Quote by Michael Spence

“Developing economies may not have much control over the headwinds that they face today, but that does not mean that they are powerless. Much can be done not just to sustain moderate growth but also to secure a more prosperous and resilient future.” quote by Michael Spence
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“Developing economies may not have much control over the headwinds that they face today, but that does not mean that they are powerless. Much can be done not just to sustain moderate growth but also to secure a more prosperous and resilient future.”

Michael Spence

About This Quote

Source Book: The Economics of Development, 2014

Developing nations face external challenges but can still pursue growth and resilience.

In simple terms: External forces challenge but don’t dictate growth.

Key Takeaway

Focus on policies that build resilience.

Themes

economics development resilience

Mood

optimistic analytical

Type

economic strategic

When to use this quote

  • Trade negotiations
  • infrastructure projects
  • education reform

Key Concepts

External shocks policy design growth strategies

Questions to Reflect On

  • What policies best boost resilience?
  • How can small economies influence global markets?
A Different Perspective

Resources may be limited for large reforms.

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