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A Decade After the Global Recession
Lessons and Challenges for Emerging and Developing Economies

by M. Ayhan Kose and Franziska Ohnsorge, editors
ISBN 9781464815270
Code: #211527

Publication year: 2020

Cdn: $75.50; US: $55.00
Language: English
426 pages
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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 2008 global recession highlights once again the critical role of policy in shielding economic activity during adverse shocks, and 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 now is to improve their resilience to shocks and lift long-term growth prospects.
A Decade After the Global Recession
Cdn: $75.50; US: $55.00
World Bank BookID: 127556 Added: 2020.7.24