Global Economic Prospects, January 2010 : Crisis, Finance, and Growth
The world economy is emerging from the throes of a historically deep and synchronized recession provoked by the bursting of a global financial bubble. The consequences of the initial bubble and the crisis have been felt in virtually every economy,...
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20100219002746 http://hdl.handle.net/10986/2415 |
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okr-10986-2415 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
ACCESS TO CAPITAL ASSET PRICE BALANCE SHEETS BANK CREDIT BANK LENDING BANKING MARKETS BANKING SECTOR BANKING SECTOR EFFICIENCY BANKING SECTORS BANKING SYSTEM BASIS POINT BASIS POINTS BOND BOND FLOWS BOND INDEX BOND MARKETS BOOM-BUST CYCLE BOOM-BUST CYCLES BORROWERS BORROWING COSTS BORROWING REQUIREMENTS BUDGET BUDGET DEFICITS CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL CONSTRAINT CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL REQUIREMENTS CAPITAL SHORTAGES CENTRAL BANK CENTRAL BANKS COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMODITY PRICE COMMODITY PRICES CONSUMER PRICE INDEX COUNTRY RISK CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT EXPANSION CREDIT GROWTH CREDIT MARKETS CREDIT PROVISION CREDIT RATING CROSS-BORDER FLOWS CURRENCIES CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT SURPLUS DEBT FINANCING DEBT FLOWS DEBT OBLIGATIONS DEPOSIT DEPOSIT MONEY BANKS DERIVATIVE DERIVATIVE TRANSACTIONS DERIVATIVES DEVELOPING COUNTRIES DEVELOPING COUNTRY DOMESTIC BANK DOMESTIC BANKING DOMESTIC BANKS DOMESTIC BORROWING DOMESTIC CREDIT DOMESTIC FINANCIAL MARKETS ECONOMIC DEVELOPMENT EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS EQUITY EQUITY CAPITAL EQUITY FLOWS EQUITY MARKET EQUITY MARKETS EXCHANGE EXCHANGE RATE EXCHANGE RATES EXPORTERS EXTERNAL DEBT EXTERNAL FINANCE EXTERNAL INDEBTEDNESS FEDERAL RESERVE FEDERAL RESERVE BANK FINANCE FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL OPENNESS FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL DEFICITS FISCAL POLICY FIXED INVESTMENT FLEXIBLE EXCHANGE RATES FOREIGN BANK FOREIGN BANK PARTICIPATION FOREIGN BANKS FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTMENT BANKS FUTURE GLOBAL BANKING GLOBAL ECONOMY GLOBAL FINANCE GLOBAL MARKETS GLOBAL TRADE GOOD GOODS GOVERNMENT BOND GOVERNMENT DEBT GOVERNMENT REVENUES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT GUARANTEE HOLDINGS INDEBTEDNESS INFLATION INFLATION RATES INFLATIONARY PRESSURES INFORMAL LENDERS INFRASTRUCTURE INVESTMENT INITIAL PUBLIC OFFERINGS INSTITUTIONAL INVESTORS INSURANCE INTEREST INTEREST PAYMENTS INTEREST RATE INTEREST RATE SPREADS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL CAPITAL INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL FINANCIAL SYSTEM INTERNATIONAL INVESTORS INTERNATIONAL MARKET INTERNATIONAL SETTLEMENTS INVENTORIES INVENTORY INVESTMENT INVESTMENT ACTIVITY INVESTMENT BANKS INVESTMENT CLIMATES INVESTMENT RATES INVESTMENT VEHICLES INVESTMENTS INVESTOR INVESTOR CONFIDENCE IPO ISSUANCES LENDERS LEVEL OF INTEREST RATES LIQUIDITY LOAN LOAN PORTFOLIOS LOCAL CURRENCY LOCAL STOCK MARKET MACROECONOMIC CONDITIONS MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET BORROWERS MONETARY AUTHORITY MONETARY FUND MONETARY POLICY MONEY MARKETS MUTUAL FUNDS NET DEBT NONPERFORMING LOANS OIL PRICE OIL PRICES OPEN ECONOMIES OPPORTUNITY COST PORTFOLIO PORTFOLIO FLOWS POVERTY PRIVATE CAPITAL PRIVATE CREDIT PRIVATE FINANCE PROPERTY PROPERTY RIGHTS PURCHASING POWER RATE OF RETURN REAL INTEREST REAL INTEREST RATES REGULATORY FRAMEWORK REGULATORY REACTION REMITTANCES RESERVE RESERVES RETURN RETURNS REVENUES RISK ASSESSMENTS RISK AVERSION RISK PREMIUMS RISK SHARING RULE OF LAW SHARE SHARE OF INVESTMENT SOFT LOANS SOVEREIGN DEBT STOCK STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKET VOLATILITY STOCK MARKETS SWAP T-BILL TRADE FINANCE TRADE LIBERALIZATION TRANSITION COUNTRIES TREASURY TREASURY BILL WITHDRAWAL |
| spellingShingle |
ACCESS TO CAPITAL ASSET PRICE BALANCE SHEETS BANK CREDIT BANK LENDING BANKING MARKETS BANKING SECTOR BANKING SECTOR EFFICIENCY BANKING SECTORS BANKING SYSTEM BASIS POINT BASIS POINTS BOND BOND FLOWS BOND INDEX BOND MARKETS BOOM-BUST CYCLE BOOM-BUST CYCLES BORROWERS BORROWING COSTS BORROWING REQUIREMENTS BUDGET BUDGET DEFICITS CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL CONSTRAINT CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL REQUIREMENTS CAPITAL SHORTAGES CENTRAL BANK CENTRAL BANKS COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMODITY PRICE COMMODITY PRICES CONSUMER PRICE INDEX COUNTRY RISK CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT EXPANSION CREDIT GROWTH CREDIT MARKETS CREDIT PROVISION CREDIT RATING CROSS-BORDER FLOWS CURRENCIES CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT SURPLUS DEBT FINANCING DEBT FLOWS DEBT OBLIGATIONS DEPOSIT DEPOSIT MONEY BANKS DERIVATIVE DERIVATIVE TRANSACTIONS DERIVATIVES DEVELOPING COUNTRIES DEVELOPING COUNTRY DOMESTIC BANK DOMESTIC BANKING DOMESTIC BANKS DOMESTIC BORROWING DOMESTIC CREDIT DOMESTIC FINANCIAL MARKETS ECONOMIC DEVELOPMENT EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS EQUITY EQUITY CAPITAL EQUITY FLOWS EQUITY MARKET EQUITY MARKETS EXCHANGE EXCHANGE RATE EXCHANGE RATES EXPORTERS EXTERNAL DEBT EXTERNAL FINANCE EXTERNAL INDEBTEDNESS FEDERAL RESERVE FEDERAL RESERVE BANK FINANCE FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL OPENNESS FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL DEFICITS FISCAL POLICY FIXED INVESTMENT FLEXIBLE EXCHANGE RATES FOREIGN BANK FOREIGN BANK PARTICIPATION FOREIGN BANKS FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTMENT BANKS FUTURE GLOBAL BANKING GLOBAL ECONOMY GLOBAL FINANCE GLOBAL MARKETS GLOBAL TRADE GOOD GOODS GOVERNMENT BOND GOVERNMENT DEBT GOVERNMENT REVENUES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT GUARANTEE HOLDINGS INDEBTEDNESS INFLATION INFLATION RATES INFLATIONARY PRESSURES INFORMAL LENDERS INFRASTRUCTURE INVESTMENT INITIAL PUBLIC OFFERINGS INSTITUTIONAL INVESTORS INSURANCE INTEREST INTEREST PAYMENTS INTEREST RATE INTEREST RATE SPREADS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL CAPITAL INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL FINANCIAL SYSTEM INTERNATIONAL INVESTORS INTERNATIONAL MARKET INTERNATIONAL SETTLEMENTS INVENTORIES INVENTORY INVESTMENT INVESTMENT ACTIVITY INVESTMENT BANKS INVESTMENT CLIMATES INVESTMENT RATES INVESTMENT VEHICLES INVESTMENTS INVESTOR INVESTOR CONFIDENCE IPO ISSUANCES LENDERS LEVEL OF INTEREST RATES LIQUIDITY LOAN LOAN PORTFOLIOS LOCAL CURRENCY LOCAL STOCK MARKET MACROECONOMIC CONDITIONS MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET BORROWERS MONETARY AUTHORITY MONETARY FUND MONETARY POLICY MONEY MARKETS MUTUAL FUNDS NET DEBT NONPERFORMING LOANS OIL PRICE OIL PRICES OPEN ECONOMIES OPPORTUNITY COST PORTFOLIO PORTFOLIO FLOWS POVERTY PRIVATE CAPITAL PRIVATE CREDIT PRIVATE FINANCE PROPERTY PROPERTY RIGHTS PURCHASING POWER RATE OF RETURN REAL INTEREST REAL INTEREST RATES REGULATORY FRAMEWORK REGULATORY REACTION REMITTANCES RESERVE RESERVES RETURN RETURNS REVENUES RISK ASSESSMENTS RISK AVERSION RISK PREMIUMS RISK SHARING RULE OF LAW SHARE SHARE OF INVESTMENT SOFT LOANS SOVEREIGN DEBT STOCK STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKET VOLATILITY STOCK MARKETS SWAP T-BILL TRADE FINANCE TRADE LIBERALIZATION TRANSITION COUNTRIES TREASURY TREASURY BILL WITHDRAWAL World Bank Global Economic Prospects, January 2010 : Crisis, Finance, and Growth |
| description |
The world economy is emerging from the
throes of a historically deep and synchronized recession
provoked by the bursting of a global financial bubble. The
consequences of the initial bubble and the crisis have been
felt in virtually every economy, whether or not it
participated directly in the risky behaviors that
precipitated the boom-and-bust cycle. And while growth rates
have picked up, the depth of the recession means that it
will take years before unemployment and spare capacity are
reabsorbed. This year's global economic prospects
examines the consequences of the crisis for both the short
and medium term growth prospects of developing countries. It
concludes that the crisis and the regulatory reaction to the
financial excesses of the preceding several years may have
lasting impacts on financial markets, raising borrowing
costs and lowering levels of credit and international
capital flows. As a result, the rate of growth of potential
output in developing countries may be reduced by between 0.2
and 0.7 percentage points annually over the next five to
seven years as economies adjust to tighter financial
conditions. Overall, the level of potential output in
developing countries could be reduced by between 3.4 and 8
percent over the long run, compared with its pre-crisis
path. The report further finds that the very liquid
conditions of the first half of the decade contributed to
the expansion in credit available in developing countries
and that this expansion was responsible for about 40 percent
of the approximately 1.5 percentage point acceleration of
the pace at which many developing-country economies could
grow without generating significant inflation. While
developing countries probably cannot reverse the expected
tightening in international financial conditions, there is
considerable scope for reducing domestic borrowing costs, or
increasing productivity and thereby regaining the higher
growth path that the crisis has derailed. |
| format |
Publications & Research :: Publication |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Global Economic Prospects, January 2010 : Crisis, Finance, and Growth |
| title_short |
Global Economic Prospects, January 2010 : Crisis, Finance, and Growth |
| title_full |
Global Economic Prospects, January 2010 : Crisis, Finance, and Growth |
| title_fullStr |
Global Economic Prospects, January 2010 : Crisis, Finance, and Growth |
| title_full_unstemmed |
Global Economic Prospects, January 2010 : Crisis, Finance, and Growth |
| title_sort |
global economic prospects, january 2010 : crisis, finance, and growth |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20100219002746 http://hdl.handle.net/10986/2415 |
| _version_ |
1764385414731268096 |
| spelling |
okr-10986-24152021-04-23T14:02:01Z Global Economic Prospects, January 2010 : Crisis, Finance, and Growth World Bank ACCESS TO CAPITAL ASSET PRICE BALANCE SHEETS BANK CREDIT BANK LENDING BANKING MARKETS BANKING SECTOR BANKING SECTOR EFFICIENCY BANKING SECTORS BANKING SYSTEM BASIS POINT BASIS POINTS BOND BOND FLOWS BOND INDEX BOND MARKETS BOOM-BUST CYCLE BOOM-BUST CYCLES BORROWERS BORROWING COSTS BORROWING REQUIREMENTS BUDGET BUDGET DEFICITS CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL CONSTRAINT CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL REQUIREMENTS CAPITAL SHORTAGES CENTRAL BANK CENTRAL BANKS COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMODITY PRICE COMMODITY PRICES CONSUMER PRICE INDEX COUNTRY RISK CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT EXPANSION CREDIT GROWTH CREDIT MARKETS CREDIT PROVISION CREDIT RATING CROSS-BORDER FLOWS CURRENCIES CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT SURPLUS DEBT FINANCING DEBT FLOWS DEBT OBLIGATIONS DEPOSIT DEPOSIT MONEY BANKS DERIVATIVE DERIVATIVE TRANSACTIONS DERIVATIVES DEVELOPING COUNTRIES DEVELOPING COUNTRY DOMESTIC BANK DOMESTIC BANKING DOMESTIC BANKS DOMESTIC BORROWING DOMESTIC CREDIT DOMESTIC FINANCIAL MARKETS ECONOMIC DEVELOPMENT EMERGING ECONOMIES EMERGING MARKET EMERGING MARKETS EQUITY EQUITY CAPITAL EQUITY FLOWS EQUITY MARKET EQUITY MARKETS EXCHANGE EXCHANGE RATE EXCHANGE RATES EXPORTERS EXTERNAL DEBT EXTERNAL FINANCE EXTERNAL INDEBTEDNESS FEDERAL RESERVE FEDERAL RESERVE BANK FINANCE FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL OPENNESS FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL DEFICITS FISCAL POLICY FIXED INVESTMENT FLEXIBLE EXCHANGE RATES FOREIGN BANK FOREIGN BANK PARTICIPATION FOREIGN BANKS FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTMENT BANKS FUTURE GLOBAL BANKING GLOBAL ECONOMY GLOBAL FINANCE GLOBAL MARKETS GLOBAL TRADE GOOD GOODS GOVERNMENT BOND GOVERNMENT DEBT GOVERNMENT REVENUES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT GUARANTEE HOLDINGS INDEBTEDNESS INFLATION INFLATION RATES INFLATIONARY PRESSURES INFORMAL LENDERS INFRASTRUCTURE INVESTMENT INITIAL PUBLIC OFFERINGS INSTITUTIONAL INVESTORS INSURANCE INTEREST INTEREST PAYMENTS INTEREST RATE INTEREST RATE SPREADS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKING INTERNATIONAL CAPITAL INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL FINANCIAL SYSTEM INTERNATIONAL INVESTORS INTERNATIONAL MARKET INTERNATIONAL SETTLEMENTS INVENTORIES INVENTORY INVESTMENT INVESTMENT ACTIVITY INVESTMENT BANKS INVESTMENT CLIMATES INVESTMENT RATES INVESTMENT VEHICLES INVESTMENTS INVESTOR INVESTOR CONFIDENCE IPO ISSUANCES LENDERS LEVEL OF INTEREST RATES LIQUIDITY LOAN LOAN PORTFOLIOS LOCAL CURRENCY LOCAL STOCK MARKET MACROECONOMIC CONDITIONS MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET BORROWERS MONETARY AUTHORITY MONETARY FUND MONETARY POLICY MONEY MARKETS MUTUAL FUNDS NET DEBT NONPERFORMING LOANS OIL PRICE OIL PRICES OPEN ECONOMIES OPPORTUNITY COST PORTFOLIO PORTFOLIO FLOWS POVERTY PRIVATE CAPITAL PRIVATE CREDIT PRIVATE FINANCE PROPERTY PROPERTY RIGHTS PURCHASING POWER RATE OF RETURN REAL INTEREST REAL INTEREST RATES REGULATORY FRAMEWORK REGULATORY REACTION REMITTANCES RESERVE RESERVES RETURN RETURNS REVENUES RISK ASSESSMENTS RISK AVERSION RISK PREMIUMS RISK SHARING RULE OF LAW SHARE SHARE OF INVESTMENT SOFT LOANS SOVEREIGN DEBT STOCK STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKET VOLATILITY STOCK MARKETS SWAP T-BILL TRADE FINANCE TRADE LIBERALIZATION TRANSITION COUNTRIES TREASURY TREASURY BILL WITHDRAWAL The world economy is emerging from the throes of a historically deep and synchronized recession provoked by the bursting of a global financial bubble. The consequences of the initial bubble and the crisis have been felt in virtually every economy, whether or not it participated directly in the risky behaviors that precipitated the boom-and-bust cycle. And while growth rates have picked up, the depth of the recession means that it will take years before unemployment and spare capacity are reabsorbed. This year's global economic prospects examines the consequences of the crisis for both the short and medium term growth prospects of developing countries. It concludes that the crisis and the regulatory reaction to the financial excesses of the preceding several years may have lasting impacts on financial markets, raising borrowing costs and lowering levels of credit and international capital flows. As a result, the rate of growth of potential output in developing countries may be reduced by between 0.2 and 0.7 percentage points annually over the next five to seven years as economies adjust to tighter financial conditions. Overall, the level of potential output in developing countries could be reduced by between 3.4 and 8 percent over the long run, compared with its pre-crisis path. The report further finds that the very liquid conditions of the first half of the decade contributed to the expansion in credit available in developing countries and that this expansion was responsible for about 40 percent of the approximately 1.5 percentage point acceleration of the pace at which many developing-country economies could grow without generating significant inflation. While developing countries probably cannot reverse the expected tightening in international financial conditions, there is considerable scope for reducing domestic borrowing costs, or increasing productivity and thereby regaining the higher growth path that the crisis has derailed. 2012-03-19T09:33:04Z 2012-03-19T09:33:04Z 2010 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20100219002746 978-0-8213-8226-4 http://hdl.handle.net/10986/2415 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research |