It’s no secret that current account imbalances exist around the world. In many cases, these imbalances may be benign and merely reflect market-driven differences in savings and investment or…
The 2008–09 crisis opened the door to a different kind of thinking in international macroeconomics—and closed it on some of the previous orthodoxy. Let’s take a look at some…
While the rich world puts its post-crisis house in order, developing countries as a whole are becoming the new engine of global growth. But switching locomotives is never free of risk.
Developing countries are emerging as the new engine of global growth, but this success has led to new challenges that policy makers must overcome if their countries are to continue driving the world economy forward.
The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World (at the Wilson Center) https://youtu.be/bAu0GhuwX7Y Economists Otaviano Canuto (right) and Marcelo Giugale pointed to a major…
Introduction to The Great Recession and Developing Countries: Economic Impact and Growth Prospects Otaviano Canuto and Justin Yifu Lin
While the rich world puts its house in order, developing countries are becoming a new engine of global growth and a pulling force for advanced economies, says a new book by World Bank economists. According to The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World, almost half of global growth is currently coming from developing countries. As a group, it is projected that their economic size will surpass that of their developed peers in 2015.
Otaviano Canuto, José Manuel Salazar 28 June 2010 (VoxEU) Economic integration transmitted the negative shocks of the crisis to workers across the world. As the global economic recovery begins, this column…
The current recovery in advanced economies is now exhibiting several signs of fragility. Their medium term growth prospects also look difficult. In this environment two questions arise: Will developing…
This note focuses on the impact of the global financial crisis on subnational debt financing. We approach the following questions: Why is subnational debt financing important? What are the impacts…
Joe Stiglitz, Nobel Laureate and former World Bank Chief Economist, is out again making headlines. This time because of his new book Freefall - America, Free Markets and the Sinking of the…
In PREM Note 141 released last week, Milan Brahmbhatt and Luiz Pereira da Silva point to several structural differences between the global economy today and in the 1930s that tend to…
Aggressive and innovative monetary and financial sector policy actions in developed economies have pulled the global financial system back from the brink of an abyss. But impaired assets are…
Squeezes of trade finance have been among the factors responsible for the recent collapse of trade. Those squeezes should be seen in the context of an overall “introspection” of…
First appeared here: Globalization Team at the Institute of Development Studies (org.). Voices from the South: The Impact of the Financial Crisis on Developing Countries, Institute of Development Studies, Sussex, p.…