› › The Financial Crisis And Developing Countries

A Decade after the Global Recession

Author : M. Ayhan Kose

Publisher : World Bank Publications

Page : 475 pages

File Size : 11,2 MB

Release : 2021-03-19

Category : Business & Economics

ISBN : 1464815283

Get eBook

Book Description

This year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well, in part by using the sizable fiscal and monetary policy ammunition accumulated during prior years of strong growth. However, their growth prospects have weakened since then, and many now have less policy space. This study provides the first comprehensive stocktaking of the past decade from the perspective of emerging market and developing economies. Many of these economies have now become more vulnerable to economic shocks. The study discusses lessons from the global recession and policy options for these economies to strengthen growth and prepare for the possibility of another global downturn.



The Global Economic Crisis and the Developing World

Author : Ashwini Deshpande

Publisher : Routledge

Page : 381 pages

File Size : 34,7 MB

Release : 2012-06-14

Category : Business & Economics

ISBN : 1136315136

Get eBook

Book Description

The world economy is currently in the throes of a global economic crisis reminiscent of the great depressions of the 1930s and the 1870s. As back then, the crisis has exposed the major structural imbalances in financial and credit markets in addition to global trade forcing many governments, developed and developing, to impose debilitating austerity measures that are exacerbating the structural weaknesses that caused the crisis in the first place. This volume offers historical insights into the origins of the contemporary crisis as well as detailed analyses of the financial and trade dimensions, an assessment of the technological and innovation context along with perspectives on the implications for unemployment and gender imbalances.



The Great Recession and Developing Countries

Author : Mustapha K. Nabli

Publisher : World Bank Publications

Page : 666 pages

File Size : 30,2 MB

Release : 2010-12-03

Category : Business & Economics

ISBN : 0821385143

Get eBook

Book Description

The book provides one of the most detailed and comprehensive reviews of the growth experience of a group of low and middle income countries before and during the global crisis. It then explores their growth prospects after the recovery and how they may be shaped by the new global economic environment.



Global Waves of Debt

Author : M. Ayhan Kose

Publisher : World Bank Publications

Page : 403 pages

File Size : 46,59 MB

Release : 2021-03-03

Category : Business & Economics

ISBN : 1464815453

Get eBook

Book Description

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.



The Global Financial Crisis - Explaining Cross-Country Differences in the Output Impact

Author : Pelin Berkmen

Publisher : International Monetary Fund

Page : 21 pages

File Size : 10,42 MB

Release : 2009-12-01

Category : Business & Economics

ISBN : 1451874251

Get eBook

Book Description

We provide one of the first attempts at explaining the differences in the crisis impact across developing countries and emerging markets. Using cross-country regressions to explain the factors driving growth forecast revisions after the eruption of the global crisis, we find that a small set of variables explain a large share of the variation in growth revisions. Countries with more leveraged domestic financial systems and more rapid credit growth tended to suffer larger downward revisions to their growth outlooks. For emerging markets, this financial channel trumps the trade channel. For a broader set of developing countries, however, the trade channel seems to have mattered, with countries exporting more advanced manufacturing goods more affected than those exporting food. Exchange-rate flexibility clearly helped in buffering the impact of the shock. There is also some -weaker-evidence that countries with a stronger fiscal position prior to the crisis were hit less severely. We find little evidence for the importance of other policy variables.



Unexpected Outcomes

Author : Carol Wise

Publisher : Brookings Institution Press

Page : 258 pages

File Size : 29,40 MB

Release : 2015-03-10

Category : Political Science

ISBN : 0815724772

Get eBook

Book Description

This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008-2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.



The Financial Crisis and Developing Countries

Author : Peter A. G. van Bergeijk

Publisher : Edward Elgar Publishing

Page : 0 pages

File Size : 45,69 MB

Release : 2011

Category : Developing countries

ISBN : 9781849804950

Get eBook

Book Description

The Financial Crisis and Developing Countries discusses and analyses regional and country specific impacts of the financial crisis in emerging markets and developing countries, covering all continents. Using heterodox and mainstream methodologies, the book develops a multidisciplinary perspective on the crisis phenomenon as it examines how the crisis changes concepts of development, critically discusses the mainstream approach, analyses (global) governance issues (including the G20) and shows the actual impact for the poor and crisis vulnerable.



Post-Crisis Growth in Developing Countries

Author : Commission on Growth and Development

Publisher : World Bank Publications

Page : 100 pages

File Size : 30,78 MB

Release : 2010-01-05

Category : Business & Economics

ISBN : 0821381660

Get eBook

Book Description

This special report by the Commission on Growth and Development assesses the 2008 financial crisis' longer term impact on developing countries, explains how developing countries can make themselves more resilient in the face of such blows, and examines what international institutions and forums can do to help.



Financial Crisis in Developing Countries and Structural Weaknesses of the Financial System

Author : International Monetary Fund

Publisher : International Monetary Fund

Page : 46 pages

File Size : 45,58 MB

Release : 1989-04-18

Category : Business & Economics

ISBN : 1451979118

Get eBook

Book Description

This paper examines the generation of financial crises in developing economies and shows that the microeconomic structure of the financial sector is a crucial factor in creating the conditions for a crisis. Structural problems of the financial system in developing countries, including implicit insurance on bank liabilities, limitations of capital markets, and lack of appropriate regulations, are sources of financial fragility. The paper concludes that close supervision of bank loans is needed to eliminate these distortions, and the optimal intervention consists of imposing an adjustable bankruptcy penalty on banking activity or charging a fair insurance premium on bank liabilities.



The Financial Crisis Inquiry Report

Author : Financial Crisis Inquiry Commission

Publisher : Cosimo, Inc.

Page : 692 pages

File Size : 29,34 MB

Release : 2011-05-01

Category : Political Science

ISBN : 1616405414

Get eBook

Book Description

The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.