In terms of purchasing power parity (PPP), the share rose from 37 per cent to almost 49 per cent. Thus, at the current juncture, the global economic weight is equally split between the EDEs and advanced economies (AEs). But, what is interesting is that the EDEs will continue to grow faster than the AEs, even under adverse economic conditions.
Whereas Mr Sands’ main areas of research are banks and financial markets, Professor Schneider has made a name for himself as an expert on the shadow economy. Mr Sands will kick off the conference by discussing “The dark side of cash".