The Great Recession and Developing Countries : Economic Impact and Growth Prospects
While globalization has been a powerful engine of economic growth over the past three decades, it has also posed new problems and challenges, especially for international economic policy coordination. In the past decade, the large and rapid increas...
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| Format: | Publication |
| Language: | English |
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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_20101214232538 http://hdl.handle.net/10986/2539 |
| Summary: | While globalization has been a powerful
engine of economic growth over the past three decades, it
has also posed new problems and challenges, especially for
international economic policy coordination. In the past
decade, the large and rapid increases in trade, remittances,
and international financial flows across borders have been a
strong incentive for economic growth, not only in East and
South Asia but also in Latin America and Sub-Saharan Africa.
And rapid and sustained economic growth in several low- and
middle-income economies has been steadily altering the
economic weights of different regions in the world economy.
The ten case studies in this volume illustrate the wide
range of effects of, and responses to, the global crisis in
low-and middle-income economies. While the case studies do
not constitute a statistically representative sample of the
globe, they illustrate a broad range of experiences in the
wake of the crisis and give insights into both the benefits
and challenges of globalization. The use of a common
methodology in preparing the cases unquestionably
facilitates cross-country comparisons and helps identify
areas where more study is needed to increase the
understanding of the current problems of, and prospects for,
developing countries. |
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