Publication:
A Decade after the 2009 Global Recession: Macroeconomic Developments

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dc.contributor.authorKoh, Wee Chian
dc.contributor.authorYu, Shu
dc.date.accessioned2020-06-25T14:52:29Z
dc.date.available2020-06-25T14:52:29Z
dc.date.issued2020-06
dc.description.abstractEmerging markets and developing economies (EMDEs) weathered the 2009 global recession relatively well. However, the impact of the global recession varied across economies. EMDEs with stronger pre-crisis fundamentals -- such as large foreign exchange reserves, sound fiscal positions, and low inflation -- suffered milder growth slowdowns, in part due to their greater capacity to engage in monetary and fiscal stimulus. Low-income countries were also resilient, as foreign aid and inflows of remittances remained relatively stable. In contrast, EMDEs that were heavily dependent on short-term capital flows -- such as portfolio investment and cross -- border bank lending—fared less well, especially those in Europe and Central Asia. A key lesson for EMDEs is the need to strengthen macroeconomic frameworks and create policy space to prepare for future global downturns.en
dc.identifierhttp://documents.worldbank.org/curated/en/634491592857799290/A-Decade-after-the-2009-Global-Recession-Macroeconomic-Developments
dc.identifier.doi10.1596/1813-9450-9290
dc.identifier.urihttps://hdl.handle.net/10986/33985
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 9290
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectGLOBAL RECESSION
dc.subjectMACROECONOMIC POLICY
dc.subjectGLOBAL FINANCIAL CRISIS
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectCOMMODITY PRICES
dc.subjectFISCAL POLICY
dc.subjectREMITTANCES
dc.subjectFOREIGN AID
dc.titleA Decade after the 2009 Global Recessionen
dc.title.subtitleMacroeconomic Developmentsen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleA Decade after the 2009 Global Recession: Macroeconomic Developments
okr.date.disclosure2020-06-22
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/634491592857799290/A-Decade-after-the-2009-Global-Recession-Macroeconomic-Developments
okr.guid634491592857799290
okr.identifier.doi10.1596/1813-9450-9290
okr.identifier.externaldocumentum090224b087aaf5bd_1_0
okr.identifier.internaldocumentum32159853
okr.identifier.reportWPS9290
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/634491592857799290/pdf/A-Decade-after-the-2009-Global-Recession-Macroeconomic-Developments.pdfen
okr.statistics.combined2908
okr.statistics.dr634491592857799290
okr.statistics.drstats2538
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Commodities
okr.topicMacroeconomics and Economic Growth::Economic Stabilization
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicMacroeconomics and Economic Growth::Macroeconomic Management
okr.unitProspects Group
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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