The level of private sector labour productivity has been particularly weak since the start of the crisis. In this paper we explore whether impairment to capital reallocation has been contributing to this weakness. The recent increase in the dispersion of output, prices and rates of return across...

OECD projections for European countries imply that the crisis will have no long-term effect on trend growth. An historical perspective says this is too optimistic. Not only is the legacy of public debt and its requirement for fiscal consolidation unfavourable but the experience of the 1930s...

Using a large panel of UK manufacturing firms over the period 2000–9, we consider how firms responded during the most recent financial crisis, estimating models for export market participation decisions and firm growth and survival. The results indicate that financial variables are highly...

The study presents an early warning system for predicting banking fragility in India. Using the index method, distress episodes in the banking system are identified during 1994–2007. On the basis of standard tools of probit regression models, the results indicate growing interlinkages of...

After a remarkable increase in the previous decade, world trade has been experiencing a dramatic fall in recent months. Vertical production chains have become a ‘propagation mechanism’ for these dramatic shifts. This article is based on recent research on vertical production chains...

In this article, the authors study the consequences of financial crises in Argentina, Brazil, South Korea, Malaysia, Mexico, Thailand, and Turkey and present an attempt to identify winners and losers during and after the crises. Through empirical analysis, the authors find that financial crises...

The literature on the outcomes of the financial crisis in low- and middle-income countries in the post-1980 era presents three broad findings: first, the burden of crises falls disproportionately on labor in general and low-income segments of the society in particular. Wages and the labor share...

Globalization has its own problems. Though, it was brought as a solution to many issues and going to be a life changer. It was like that but along with that, globalization has integrated the world and any problem coming to one corner gets percolated to other corners of the world soon. In stock...

In the global credit crisis of 2007–08, the financial system escaped human control and became unstable, with near-catastrophic consequences. The underlying processes driving this instability may be traced to: positive feedback between asset price inflation and increasing leverage;...

This article extends previous research by the authors on the spatial and temporal evolution of housing values across the United States to examine the impact of the 2007 financial crisis. The specific goals are to (a) document certain pre- and postcrisis trends in the nation’s economic...