Publication: The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia
Date
2010-05
ISSN
Published
2010-05
Author(s)
Abstract
The financial crisis and economic
downturn threatens the welfare of more than 160 million
people who are poor or are just above the poverty line in
the economies of Eastern and Central Europe, the former
Soviet Union, and Turkey. This note concerns the findings of
recent World Bank analysis (Tiongson et al. 2010) that uses
precrisis household data and aggregate macroeconomic
outcomes in these countries to simulate the impact of the
crisis on households, transmitted via credit market shocks,
price shocks, and income shocks. The adverse effects are
widespread, with both poor and non-poor households being
vulnerable. By 2010, for the region as a whole, it is
estimated that some 11 million more people will be in
poverty and more than 23 million additional people will find
themselves just above the poverty line because of the crisis.
Citation
“Sugawara, Naotaka; Sulla, Victor; Taylor, Ashley; Tiongson, Erwin R.. 2010. The Crisis Hits Home : Stress-Testing Households in Europe and
Central Asia. Economic Premise; No. 12. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/30facac8-2c6f-51d0-adc4-40946641bdd6 License: CC BY 3.0 IGO.”