The Great Recession and the Future of Cities

This paper describes the serious fiscal crisis faced by cities around the world following the Great Recession of 2008. Five years later, the after-effects of this major crisis continue to be felt and limit economic opportunities in cities. Section...

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Bibliographic Details
Main Authors:	Dethier, Jean-Jacques, Morrill, Curtis
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCESS TO CAPITAL ACCOUNTING ACCOUNTING SYSTEMS ADVANCED ECONOMIES AUTONOMY BAILOUT BALANCE SHEET BANK LOANS BANK POLICY BANKING CRISIS BANKING INSTITUTIONS BANKING SYSTEM BANKRUPTCY BANKS BID BOND BOND ISSUERS BONDS BORROWER BORROWING BORROWING CAPACITIES BORROWING COSTS BUDGET DEFICITS CAPACITY BUILDING CAPITAL FORMATION CAPITAL MARKETS CENTRAL BANKS CENTRAL GOVERNMENTS COMMERCIAL BANKS COMMODITY PRICES CONSUMER CREDIT CREDIT MARKETS CREDIT QUALITIES CREDITORS CREDITWORTHINESS CURRENT ACCOUNT CURRENT ACCOUNT DEFICITS CURRENT EXPENDITURES DEBT DEBT CRISIS DEBT OBLIGATIONS DECENTRALIZATION DEFAULTS DEFICITS DERIVATIVE DERIVATIVE PRODUCTS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT AUTHORITIES DEVELOPMENT FINANCE DEVOLUTION DOMESTIC CAPITAL DURABLE DURABLE GOODS ECONOMIC ACTIVITY ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC OPPORTUNITIES EMERGING MARKETS EMPLOYERS EMPLOYMENT ENVIRONMENTAL DEGRADATION ENVIRONMENTAL SUSTAINABILITY EQUITY MARKETS EQUITY RATIO EUROPEAN CENTRAL BANK EXCESS LIQUIDITY EXPENDITURE EXTERNAL SHOCKS EXTERNALITIES FEDERAL RESERVE FINANCIAL CRISIS FINANCIAL DEREGULATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENT FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STRESS FINANCIAL SUSTAINABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL AUTONOMY FISCAL DEFICITS FISCAL FEDERALISM FISCAL POLICY FLOW OF CAPITAL FORECLOSURES FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT GOVERNMENT FUNDING GOVERNMENT INVESTMENTS GOVERNMENT SPENDING GOVERNMENT SUPPORT HEDGE FUNDS HOLDINGS HOUSEHOLDS HOUSING HOUSING PRICES HUMAN CAPITAL INFORMAL ECONOMY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL BARRIERS INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATE INTEREST RATE POLICY INTEREST RATES INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INVESTMENT BANK INVESTMENT CLIMATE INVESTMENT CORPORATIONS INVESTMENT DECISION INVESTMENT DECISIONS INVESTMENT FUND INVESTMENT PROJECTS INVESTMENT SPENDING INVESTMENT STRATEGIES JOB OPPORTUNITIES LABOR UNIONS LAND PRICES LARGE CITIES LEGAL CONSTRAINTS LEGAL FRAMEWORKS LEGISLATION LIQUIDITY CRISIS LOCAL CAPITAL EXPENDITURES LOCAL ECONOMIES LOCAL ECONOMY LOCAL GOVERNMENT LOCAL GOVERNMENTS LOCAL INFRASTRUCTURE LOCAL PUBLIC FINANCE LOW INTEREST RATE LOW-INCOME BORROWERS MARKET STABILITY MARKET VALUE METROPOLITAN AREAS MICROFINANCE MIGRANT WORKERS MONETARY FUND MONETARY POLICY MONEY MARKET MONEY MARKETS MORTGAGE MORTGAGE DEBT MORTGAGE MARKET MORTGAGE SECURITIES MORTGAGES MULTINATIONAL MUNICIPAL DEVELOPMENT MUNICIPAL GOVERNMENTS MUNICIPALITIES MUTUAL FUNDS NATURAL RESOURCES ONLINE SYSTEM PENSION PENSION FUNDS PRIVATE CAPITAL PRIVATE INVESTMENT PRIVATE INVESTORS PRODUCTIVITY PROPERTY TAXES PUBLIC DEBTS PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SERVICES PUBLIC TRANSPORT PUBLIC TRANSPORTATION RATING AGENCIES REAL ESTATE REAL PROPERTY RECESSION RECESSIONS REINVESTMENT REINVESTMENTS REMITTANCES RESIDENTIAL MORTGAGE RETURNS REVENUE SHARING RISK MANAGEMENT RISK MANAGEMENT STRATEGIES SAVINGS SECONDARY MORTGAGE MARKET SECURITIES SHORT-TERM FINANCING SOCIAL CAPITAL SOCIAL SERVICES SOCIAL WELFARE SOVEREIGN DEBT START-UPS SUBNATIONAL FINANCE SUBNATIONAL GOVERNMENTS TAX TAX COMPLIANCE TAX RATES TAX REFORM TELECOMMUNICATIONS TRADE UNIONS TRANCHES TRANSITION COUNTRIES TRANSPORT TREASURY TREATY UNEMPLOYMENT UNION URBAN AREAS URBAN CONGESTION URBAN DEVELOPMENT URBAN ECONOMIES URBAN GOVERNMENTS URBANIZATION VILLAGES WEALTH EFFECT
Online Access:	http://documents.worldbank.org/curated/en/2012/11/16963182/great-recession-future-cities http://hdl.handle.net/10986/19882