These briefs address emerging trends and topics of relevance to cities, towns, national governments and development agencies as they face the challenges of urbanization. This series draws attention to new research and policy issues with references and resources for researchers, policy analysts, and practitioners alike who will wish to further explore these, topics.
(World Bank, Washington, DC, 2008-12) Baker, Judy L.
The effects of the recent financial
crisis are only beginning to be felt in many developing
countries, but economic activity is declining rapidly with
far reaching impacts. This crisis comes at a time when most
countries are still struggling with the impacts of rising
food and fuel prices. Though global food and fuel prices
have softened somewhat in recent months from the highs
earlier in 2008, there has been much volatility and they are
anticipated to remain high over the medium term. It is
estimated that the high food and fuel prices alone have
increased the number of extremely poor in the world by at
least 100 million. While impacts of the crises affect both
urban and rural populations, the urban poor have been hit
hardest in this recent food and fuel crisis, and in previous
financial crisis, given their heavy reliance on the cash
economy, no agricultural production to fall back on, and
wage reductions and employment losses at urban based
industries. This has resulted in social unrest in a number
of cities earlier in 2008 all over the developing world.