The Global Financial Crisis and Development Thinking

The global financial crisis has not only dealt a major blow to the global economy, but also shaken confidence in economic management in the developed world and the economic models that guide it. The crisis has revealed major market failures, especi...

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Bibliographic Details
Main Author:	Rogers, F. Halsey
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACTIVE MARKETS ADMINISTRATIVE CONTROL ADVANCED ECONOMIES ARBITRAGE ASSET PRICE ASYMMETRIC INFORMATION AVERAGE PRODUCTIVITY BAILOUT BAILOUTS BANK POLICY BANKING SYSTEM BANKRUPTCY BOND BOND RATING BORROWER CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL ACCOUNTS CAPITAL FLOWS CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CLIMATE CHANGE COMMERCIAL BANKS COMPARATIVE ADVANTAGE CONSUMERS CORPORATE GOVERNANCE COST-BENEFIT CREDIT AVAILABILITY CREDIT LINE CRISIS COUNTRIES CURRENCY CURRENT PRICES DEBT DEBT CRISIS DEBT FINANCING DEBT LEVELS DEBTS DEFAULT RISK DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DEVELOPMENT STRATEGY DOMESTIC MARKETS ECONOMIC ACTIVITY ECONOMIC CRISES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC MODELS ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC PROBLEMS ECONOMIC RESEARCH ECONOMIC THOUGHT EFFICIENT MARKET EMERGING ECONOMIES EMERGING MARKETS EQUITY FINANCING EXCESS RETURNS EXCHANGE RATE EXOGENOUS SHOCKS EXPORT GROWTH EXPORT VOLUMES EXPORTERS EXPORTS EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL SHOCKS FEDERAL RESERVE FEDERAL RESERVE BANK FINANCES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INCENTIVES FINANCIAL INSTITUTIONS FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL POLICIES FINANCIAL POLICY FINANCIAL REGULATION FINANCIAL RISK FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FOREIGN BANKS FOREIGN CAPITAL FOREIGN DEBT FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FULL EMPLOYMENT GDP GLOBAL CAPITAL GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMY GLOBAL MARKETS GLOBAL RECESSION GLOBAL TRADE GLOBALIZATION GOVERNMENT ACTION GOVERNMENT REGULATION HEALTH SERVICES HEDGE FUNDS HOME OWNERSHIP HOST COUNTRIES HOUSEHOLD SAVING HOUSING HOUSING FINANCE HOUSING PRICES HUMAN DEVELOPMENT IMPERFECT INFORMATION IMPORTS INCOME INCOME GROWTH INCOME LEVELS INDUSTRIALIZATION INFLATION INFLATION RATES INFORMATION ASYMMETRIES INFORMATION TECHNOLOGY INFORMED INVESTORS INSTITUTIONAL ENVIRONMENT INSURANCE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL PORTFOLIO INTERNATIONAL TRADE INVESTING INVESTMENT BANKS INVESTMENT CLIMATE KEYNESIAN ECONOMICS LEVY LIQUIDITY LOAN LOAN MARKETS LOWER PRICE MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MACROECONOMIC RISKS MACROECONOMIC STABILITY MACROECONOMIC VOLATILITY MACROECONOMICS MARKET DEVELOPMENT MARKET ECONOMY MARKET EFFICIENCY MARKET FAILURES MARKET FOR SECURITIES MARKET MECHANISM MARKET PARTICIPANTS MARKET PLAYERS MARKET PRICES MARKET SIZE MATURE MARKETS MONETARY ECONOMICS MONETARY FUND MONETARY POLICY MORTGAGE MORTGAGE DEBTS MORTGAGE-BACKED SECURITIES NATIONAL SAVING NEGATIVE EXTERNALITIES NEOCLASSICAL MODELS NET EXPORTS OLIGARCHY PEER PRESSURES PENSION POLICY ADVICE POLICY RESPONSES POLITICAL ECONOMY PORTFOLIO CAPITAL PORTFOLIO INVESTMENT PORTFOLIOS PRICE SERIES PRODUCT MARKETS PROFITABILITY PROPERTY RIGHTS PRUDENTIAL REGULATION PUBLIC AGENCIES PUBLIC POLICY PUBLIC SERVICES PUBLIC SPENDING RATING AGENCIES REAL EXCHANGE RATE REGULATOR REGULATORS REGULATORY AGENCIES REGULATORY AGENCY REGULATORY GAPS REGULATORY INFRASTRUCTURE REGULATORY STRUCTURE REGULATORY STRUCTURES RESERVES RESOURCE ALLOCATION RETIREMENT RETURN RETURNS RISKY ASSETS SAVINGS SAVINGS BEHAVIOR SHORT-TERM CAPITAL SHORT-TERM LIQUIDITY SOLVENCY STATE FAILURES STATE INTERVENTION SUPPLY SHOCKS SWAPS SYSTEMIC RISK TAX TRADING UNCERTAINTIES UNDERLYING PROBLEMS UNEMPLOYMENT VALUATION VALUATIONS VALUE AT RISK MODELS WEALTH WEALTH EFFECTS WORLD ECONOMY
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=000158349_20100629111506 http://hdl.handle.net/10986/3838