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Growing Protectionism After The Financial Crisis : What is the Evidence?
Wiberg, Magnus; Wallen, Fabian - 2021
The weak global GDP growth since the financial crisis in 2007-2009 has coincided with unusually weak growth in global trade. Organisations that monitor international macro-economic development have identified growing protectionism – not least the increase in non-tariff barriers to trade, such...
Persistent link: https://www.econbiz.de/10013224809
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The Financial Crisis and Sizable International Reserves Depletion : From ‘Fear of Floating’ to the ‘Fear of Losing International Reserves’?
Aizenman, Joshua - 2010
In this paper we study the degree to which emerging markets (EMs) adjusted to the global liquidity crisis by drawing down their international reserves (IR). Overall, we find a mixed and complex picture. Intriguingly, only about half of the EMs depleted their IR as part of the adjustment...
Persistent link: https://www.econbiz.de/10013141989
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The Global Economic Crisis and Trade and Growth Prospects in East Asia
Akyuz, Yilmaz - 2011
The global economic crisis has revealed that growth in East Asia is highly vulnerable to slowdown in exports to major advanced economies. This paper shows that in precrisis years, at least one third of growth in the People's Republic of China was due to exports, and this proportion was even...
Persistent link: https://www.econbiz.de/10013128664
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The global financial crisis : trying to understand the global trade downturn and recovery
Anderton, Bob; Tewolde, Tadios - 2011
2008Q4-2009Q1 was so severe and synchronized across the world, and also examines the subsequent recovery in global trade …-level can explain a significant proportion of the decline in world imports during the crisis, while declines in the highly …", suggesting that widespread global production chains may have amplified the downturn in world trade and partly explains its high …
Persistent link: https://www.econbiz.de/10009354645
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The Global Financial Crisis : Trying to Understand the Global Trade Downturn and Recovery
Anderton, Robert; Tewolde, Tadios - 2021
2008Q4-2009Q1 was so severe and synchronized across the world, and also examines the subsequent recovery in global trade … world imports during the crisis, while declines in the highly import-intensive expenditure category of investment also … amplified the downturn in world trade and partly explains its high-degree of synchronisation across the globe. In addition, the …
Persistent link: https://www.econbiz.de/10013315987
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Skewed credit and growth dynamics after the global financial crisis
Estrada, Gemma; Erce, Aitor; Park, Donghyun; Rojas, Juan A. - 2018
A large empirical literature finds that financial development is beneficial for economic growth, although some recent evidence suggests otherwise. We contribute to the finance-growth literature by examining the role of credit growth skewness and long-run growth. Earlier literature found that...
Persistent link: https://www.econbiz.de/10011913754
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Current-account imbalances and economic growth during the 2008 - 2009 financial crisis : an empirical analysis
Rangelove, Rossitsa - In: Contemporary economics 8 (2014) 2, pp. 123-136
This study examines the relationship between current-account imbalances and economic growth during the 2008-2009 financial and economic crisis for 179 countries (covered by IMF data) and within the EU-27 countries (covered by Eurostat data). The countries are divided into 4 groups by GDP per...
Persistent link: https://www.econbiz.de/10010406280
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Flexibility of adjustment to shocks : economic growth and volatility of middle-income countries before and after the Global Financial Crisis of 2008
Aizenman, Joshua; Jinjarak, Yothin; Estrada, Gemma; … - 2017
The pronounced and persistent impact of the global financial crisis of 2008 motivates our empirical analysis of the role of institutions and macroeconomic fundamentals on countries' adjustment to shocks. Our empirical analysis shows that the associations of growth level, growth volatility,...
Persistent link: https://www.econbiz.de/10011754881
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Foreign currency debt, financial crises and economic growth : a long run view
Bordo, Michael D.; Meissner, Christopher M.; Stuckler, David - 2009
Foreign currency debt is widely believed to increase risks of financial crisis, especially after being implicated as a cause of the East Asian crisis in the late 1990s. In this paper, we study the effects of foreign currency debt on currency and debt crises and its indirect effects on short-term...
Persistent link: https://www.econbiz.de/10003895003
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Decomposing the effects of financial liberalization : crises vs. growth
Rancière, Romain; Tornell, Aaron; Westermann, Frank - 2006
We present a new empirical decomposition of the effects of financial liberalization on economic growth and on the incidence of crises. Our empirical estimates show that the direct effect of financial liberalization on growth by far outweighs the indirect effect via a higher propensity to crisis....
Persistent link: https://www.econbiz.de/10009660995