Emerging from the Global Crisis - Macroeconomic Challenges Facing Low-Income Countries
Emerging from the Global Crisis - Macroeconomic Challenges Facing Low-Income Countries

Author: International Monetary Fund. Strategy, Policy, & Review Department

Publisher: International Monetary Fund

Published: 2010-05-10

Total Pages: 63

ISBN-13: 1498336736

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While the impact of the global crisis has been severe, real per capita GDP growth stayed positive in two-thirds of low-income countries (LICs), unlike in previous global downturns, and in contrast to richer countries. The crisis affected LICs not so much through the terms of trade or global interest rates, but rather through a sharp contraction in export demand, foreign direct investment, and remittances (oil exporters also suffered from a sharp fall in oil prices). LICs saw the sharpest decline in their economic growth rate over the last four decades. However, this slowdown followed a period of strong expansion, and real per capita GDP growth has generally held up in LICs, remaining well above growth in richer countries.

Emerging from the Global Crisis
Emerging from the Global Crisis

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2011-02-22

Total Pages: 114

ISBN-13: 1616350733

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Although the impact of the global crisis has been severe, real per capita GDP growth stayed positive in two-thirds of low-income countries (LICs), unlike in previous global downturns, and in contrast to richer countries. Emerging from the Global Crisis explores how LICS have coped with the global economic crisis. It reviews the impact of the crisis on LICs, domestic policy responses to the crisis, and the precrisis conditions of select countries. The prospects and challenges that LICs face are also considered. Sections of the paper look at growth prospects, policy recommendations, the general macroeconomic outlook, as well as the rebuilding of fiscal buffers. The authors also "stress-test" LICs' exposure to further volatility by using a hypothetical "downside" recovery scenario.

Coping with the Global Financial Crisis
Coping with the Global Financial Crisis

Author: Ms.Stefania Fabrizio

Publisher: International Monetary Fund

Published: 2010-03-16

Total Pages: 52

ISBN-13: 1589069293

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This forthcoming title in the Departmental Paper Series describes the special challenges facing low-income countries as economic growth contracts by an estimated 1.1 percent globally. Coping with the Crisis: Challenges Facing Low-Income Countries provides an assessment of the implications of the financial crisis for low-income countries, evaluates the short-term macroeconomic outlook for these countries, and discusses the policy challenges they face. Chapters cover the outlook for global economic growth and commodity prices, an overview of how low-income countries have been affected, fiscal policy, monetary and exchange rate policy responses, potential external financing needs and how the international community, including the IMF, can help countries meet them. The challenges ahead for low-income countries are delineated, including debt vulnerabilities and the need for countries to develop well-regulated local capital markets and banking systems, as well as enhanced public sector efficiency.

Global Risks, Vulnerabilities, and Policy Challenges Facing Low-Income Countries
Global Risks, Vulnerabilities, and Policy Challenges Facing Low-Income Countries

Author: International Monetary Fund. Strategy, Policy, & Review Department

Publisher: International Monetary Fund

Published: 2012-10-10

Total Pages: 47

ISBN-13: 149833976X

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The rapid recovery in many low-income countries (LICs) following the global crisis has been sustained in 2012. Softening commodity prices have led to moderating inflation pressures in most LICs. However, progress in rebuilding policy buffers has halted over the past two years, despite continued strong growth in LICs.

Macroeconomic Research in Low-income Countries
Macroeconomic Research in Low-income Countries

Author: Hites Ahir

Publisher: International Monetary Fund

Published: 2021-03-24

Total Pages: 76

ISBN-13: 1513566601

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Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.

The Global Social Crisis
The Global Social Crisis

Author: United Nations

Publisher: UN

Published: 2011

Total Pages: 136

ISBN-13:

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During 2008-2009, the world experienced its worst financial and economic crisis since the Great Depression of the 1930s. The crisis followed the effects of the food and fuel price hikes in 2007 and 2008. In 2009, global output contracted by 2 per cent. This 2011 Report on the World Social Situation reviews the ongoing adverse social consequences of these crises after an overview of its causes and transmission.

World Economy After The Global Crisis, The: A New Economic Order For The 21st Century
World Economy After The Global Crisis, The: A New Economic Order For The 21st Century

Author: Barry Eichengreen

Publisher: World Scientific

Published: 2012-04-26

Total Pages: 230

ISBN-13: 9814452203

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List of contributors The global credit crisis of 2008–2009 was the most serious shock to the world economy in fully 80 years. It was for the world as a whole what the Asian crisis of 1997–1998 was for emerging markets: a profoundly alarming wake-up call. By laying bare the fragility of global markets, it raised troubling questions about the operation of our deeply integrated world economy. It cast doubt on the efficacy of the dominant mode of light-touch financial regulation and more generally on the efficacy of the prevailing commitment to economic and financial liberalization. It challenged the managerial capacity of inherited institutions of global governance. And it augured a changing of the guard, pointing to the possibility that the economies that had been the leaders in the “global growth stakes” in the past might no longer be the leaders in the future. What the crisis means for reform, however, is still unclear. This book brings together leading scholars and policy analysts to describe and weigh the options. Successive chapters assess options for the global financial system, the global trading system, the international monetary system, and the Group of 20 and global governance. A final set of chapters contemplates the policy challenges for emerging markets and the advanced economies in the wake of the financial crisis. Contents:IntroductionFinancial Reform after the CrisisDid WTO Rules Restrain Protectionism During the Recent Systemic Crisis?The International Monetary System after the Financial CrisisThe Group of 20: Trials of Global Governance in Times of CrisisEmerging Markets in the Aftermath of the Global Financial CrisisChallenges for Emerging AsiaLong-Term Challenges for the Advanced Economies: Reducing Government Debt Readership: Students and researchers in the fields of international economics, macroeconomics, finance and development. Keywords:World Economy;Financial Crisis;Global Trading System;Global Financial System;International Monetary System;G20;Global Governance;Emerging Markets;Asia;Advanced EconomiesKey Features:Gives comprehensive treatment covering trade, finance, macroeconomics and development policyCombines the perspectives of leading analysts from North America, Europe and AsiaContains accessible technical

Struggling with Success
Struggling with Success

Author: Anne O. Krueger

Publisher: World Scientific

Published: 2012

Total Pages: 317

ISBN-13: 9814374334

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Globalization, by which is meant the increasing economic interdependence among nations, has been a critical ingredient in enabling enormous improvement in mankind''s condition. While progress has not always been smooth, and has not come without dislocation for some, the economic policy challenge has been, and is, to enable the realization of the large potential benefits of globalization while simultaneously reducing the negative side effects and providing safety nets for those whose lives are disrupted in the process. This volume focuses on the successes of globalization, and some of the main economic policy challenges and solutions that arise to enhance the benefits and lower the costs. It covers different aspects of globalization, sovereign debt restructuring, development of the financial sector and financial crises in Asia, Turkey, Brazil, etc. The final part of the book covers multilateral international organizations, namely the World Trade Organization, the IMF and the World Bank.

Frontiers in Development Policy
Frontiers in Development Policy

Author: Shahid Yusuf

Publisher: World Bank Publications

Published: 2011-09-15

Total Pages: 317

ISBN-13: 0821387855

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The global crisis of 2008-09 has brought to the forefront a plethora of economic and political policy issues. There is a re-opening of discussion on basic economic concepts, appropriate framework for analysis, role of private and public sectors in the economy, structural transformation of economies, human development and managing of growing risks and crises. The purpose of this book has been to bring home the inter-linkages in various parts of the economy and the need for practical policy making to reach development goals while being aware of the instabilities, complexities and downside risks inherent in the nature of a an economy operating in a globalized world. Thematically, this book focuses on two core types of policy: policies that promote strong, sustainable and inclusive growth in low income and middle income developing countries and new and emerging policies that necessitates a discussion amongst policy makers and practitioners. Throughout the book, the authors provide insight in to the different types of policy approaches that can be taken to help the economy grow. Ultimately the book looks to foster discussion amongst policy makers on growth and development.