Emerging and Developing Economies : Ten Years After the Global Recession
Although emerging market and developing economies (EMDEs) weathered the global recession a decade ago relatively well, they now appear less well placed to cope with the substantial downside risks facing the global economy. In many EMDEs, the room f...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/523581581626000762/Emerging-and-Developing-Economies-Ten-Years-After-the-Global-Recession http://hdl.handle.net/10986/33353 |
| Summary: | Although emerging market and developing
economies (EMDEs) weathered the global recession a decade
ago relatively well, they now appear less well placed to
cope with the substantial downside risks facing the global
economy. In many EMDEs, the room for monetary and fiscal
policies to respond to shocks has eroded; underlying growth
potential has slowed; and the momentum for improving policy
frameworks, institutions, and business climates seems to
have slackened. The experience of the 2009 global recession
highlights once again the critical role of policy room in
shielding economic activity during adverse shocks. The
subsequent decade of anemic growth underlines the need for
sound policy frameworks, institutions, and business
environments to promote sustained growth. With the global
growth outlook weakening and vulnerabilities rising, the
policy priority for EMDEs is now to improve resilience to
shocks and to lift long-term growth prospects. |
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