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The Global Financial Crisis and Development Thinking

Rogers, F. Halsey - 2017

The global financial crisis has not only dealt a major blow to the global economy, but also shaken confidence in economic management in the developed world and the economic models that guide it. The crisis has revealed major market failures, especially in the housing bubble and its transmission...

Persistent link: https://www.econbiz.de/10012976477

The Crisis in the Euro Zone : Did the Euro Contribute to the Evolution of the Crisis?

Lin, Justin Y. - 2017

The simmering sovereign debt crisis in the Euro Zone represents a looming threat to the recovery of the world economy …, notably the adoption of the common currency. Adoption of the euro led to convergence of interest rates in periphery countries …-core countries. In sum, the euro exacerbated intra-European imbalances whose unsustainability became evident in the aftermath of the …

Persistent link: https://www.econbiz.de/10012975135

Managing Financial Integration and Capital Mobility -- Policy Lessons from the Past Two Decades

Aizenman, Joshua - 2017

The accumulated experience of emerging markets over the past two decades has laid bare the tenuous links between external financial integration and faster growth, on the one hand, and the proclivity of such integration to fuel costly crises on the other. These crises have not gone without...

Persistent link: https://www.econbiz.de/10012975791

Financial Distortions and the Distribution of Global Volatility

Eden, Maya - 2017

Why are emerging economies excessively vulnerable to shocks to external funding? What was the role of financial flows from emerging to developed economies in setting the stage for the subprime crisis? This paper addresses these questions in a simple general equilibrium framework that emphasizes...

Persistent link: https://www.econbiz.de/10012975525

Financial Globalization and the Russian Crisis of 1998

Pinto, Brian - 2017

Russia had more-or-less completed the privatization of its manufacturing and natural resource sectors by the end of 1997. And in February 1998, the annual inflation rate at last dipped into the single digits. Privatization should have helped with stronger micro-foundations for growth. The...

Persistent link: https://www.econbiz.de/10012976533

Covid-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets

Espitia, Alvaro - 2020

This paper analyzes the impact of Covid-19 and uncooperative trade policies on world food markets. It quantifies the initial shock due to the pandemic under the assumption that products that are more labor intensive in production are more affected through workers' morbidity and containment...

Persistent link: https://www.econbiz.de/10012833536

Global Recessions

Kose, M. Ayhan - 2020

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global gross domestic product contracted, and this contraction was accompanied by weakening of other key indicators of global...

Persistent link: https://www.econbiz.de/10012840241

Emerging and Developing Economies : Ten Years after the Global Recession

Kose, M. Ayhan - 2020

Although emerging market and developing economies (EMDEs) weathered the global recession a decade ago relatively well, they now appear less well placed to cope with the substantial downside risks facing the global economy. In many EMDEs, the room for monetary and fiscal policies to respond to...

Persistent link: https://www.econbiz.de/10012841602

Global Corporate Debt During Crises : Implications of Switching Borrowing Across Markets

Cortina Lorente, Juan Jose - 2020

This paper studies how crises prompted firms to switch borrowing across markets, impacting the amount borrowed, maturity, and currency denomination at the firm and aggregate levels. Using data on worldwide debt issuance from advanced and emerging economies, the paper shows that firms shifted...

Persistent link: https://www.econbiz.de/10012842157

Debt and Financial Crises

Koh, Wee Chian - 2020

Emerging market and developing economies have experienced recurrent episodes of rapid debt accumulation over the past fifty years. This paper examines the consequences of debt accumulation using a three-pronged approach: an event study of debt accumulation episodes in 100 emerging market and...

Persistent link: https://www.econbiz.de/10012843341