Energy and Environmental Challenges in the New Global Economy

Andrew Sentance, Bank of England.

Provides an analysis of recovery in terms of global economic growth following the recent financial crisis, considering the role of a new global economy, energy prices and global environmental challenges within this. Key challenges for national economic policymakers are apparent, in respect to global interdependencies, global spillovers and the links between domestic and global, demand, growth and inflation. Globalisation remains important, even though it has resulted in volatility and made national economic management difficult, something national policies need to reflect. In addition, more effective international policy coordination is needed and this should include energy and the environment.