A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies

Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequentl...

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Main Authors:	Koh, Wee Chian, Yu, Shu
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2020
Subjects:	GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT
Online Access:	http://documents.worldbank.org/curated/en/446541592856902883/A-Decade-after-the-2009-Global-Recession-Macroeconomic-and-Financial-Sector-Policies http://hdl.handle.net/10986/33984

id	okr-10986-33984
recordtype	oai_dc
spelling	okr-10986-339842022-09-05T00:18:39Z A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies Koh, Wee Chian Yu, Shu GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequently slowed to a sluggish pace by pre-recession standards, and many emerging market and developing economies (EMDEs) have been struggling to unwind their fiscal stimulus and contain a buildup of debt. The experience of the global recession in 2009 highlights the need for well-timed, appropriately calibrated domestic stabilization policies, but also the benefits of international cooperation and coordination in support of strong and sustained global growth and financial system stability. Sound policy frameworks can help create room for stabilization policies, such as fiscal rules to safeguard fiscal sustainability or macroprudential policies and capital flow management measures to better manage systemic risks. 2020-06-25T14:46:32Z 2020-06-25T14:46:32Z 2020-06 Working Paper http://documents.worldbank.org/curated/en/446541592856902883/A-Decade-after-the-2009-Global-Recession-Macroeconomic-and-Financial-Sector-Policies http://hdl.handle.net/10986/33984 English Policy Research Working Paper;No. 9289 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT
spellingShingle	GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT Koh, Wee Chian Yu, Shu A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies
relation	Policy Research Working Paper;No. 9289
description	Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequently slowed to a sluggish pace by pre-recession standards, and many emerging market and developing economies (EMDEs) have been struggling to unwind their fiscal stimulus and contain a buildup of debt. The experience of the global recession in 2009 highlights the need for well-timed, appropriately calibrated domestic stabilization policies, but also the benefits of international cooperation and coordination in support of strong and sustained global growth and financial system stability. Sound policy frameworks can help create room for stabilization policies, such as fiscal rules to safeguard fiscal sustainability or macroprudential policies and capital flow management measures to better manage systemic risks.
format	Working Paper
author	Koh, Wee Chian Yu, Shu
author_facet	Koh, Wee Chian Yu, Shu
author_sort	Koh, Wee Chian
title	A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies
title_short	A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies
title_full	A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies
title_fullStr	A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies
title_full_unstemmed	A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies
title_sort	decade after the 2009 global recession : macroeconomic and financial sector policies
publisher	World Bank, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/446541592856902883/A-Decade-after-the-2009-Global-Recession-Macroeconomic-and-Financial-Sector-Policies http://hdl.handle.net/10986/33984
_version_	1764479936576356352

A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies

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