The Economic and Fiscal Consequences of Financial Crises

Reinhart, Carmen M.

doi:10.1596/1020-797X_11_3_8

Journal Article

The Economic and Fiscal Consequences of Financial Crises

Download

English PDF571.9KB

Published

2009-12-01

Journal

Development Outreach 11

Author(s)

Reinhart, Carmen M.

Metadata

Show full item record

Abstract

The Ds: Sharp economic downturns follow banking crises; with government revenues falling, fiscal deficits worsen; deficits lead to debt; as debts pile up rating downgrades follow. For the most fortunate countries it does not end in default.

Citation

“Reinhart, Carmen M.. 2009. The Economic and Fiscal Consequences of Financial Crises. World Bank. © World Bank. https://openknowledge.worldbank.org/handle/10986/4596 License: CC BY 3.0 IGO.”

URI

http://hdl.handle.net/10986/4596

Collection(s)

This item appears in the following Collection(s)

D. Development Outreach

Multinational Corporation Affiliates, Backward Linkages, and Productivity Spillovers in Developing and Emerging Economies : Evidence and Policy Making

Jordaan, Jacob A.; Douw, Willem; Qiang, Christine Zhenwei (2020-08)

Recent research on productivity spillovers from affiliates of multinational corporations in developing and emerging economies finds that backward linkages from affiliates of foreign-owned firms to local suppliers constitute the main channel transmitting productivity spillovers. This finding has important policy implications, given that host economy governments often spend considerable resources on attracting multinational corporation investments and promoting their impact on technological development and economic growth. This paper conducts a new and comprehensive survey of recent empirical studies that focus on the drivers and impacts of backward linkages between multinational corporation affiliates and their local suppliers. The literature survey reveals that several characteristics of multinational corporation affiliates and domestic firms, host economy conditions, and various ...

Recent research on productivity spillovers from affiliates of multinational corporations in developing and emerging economies finds that backward linkages from affiliates of foreign-owned firms to local suppliers constitute the main channel transmitting productivity spillovers. This finding has important policy implications, given that host economy governments often spend considerable resources on attracting multinational corporation investments ...

Recent research on productivity spillovers from affiliates of multinational corporations in developing and emerging economies finds that backward linkages from affiliates of foreign-owned firms to local suppliers constitute the main channel transmitting productivity spillovers. This finding has important policy implications, given ...
Implications of the War in Ukraine for the Global Economy

Guenette, Justin Damien; Kenworthy, Philip George; Wheeler, Collette Mari (2022-03-31)

The war in Ukraine is causing an enormous humanitarian crisis. More than 12 million people are estimated to have been displaced and more than 13 million need urgent humanitarian assistance. Ukraine’s economy is being devastated. Trauma suffered by the population will have enduring consequences. The war is triggering global ripple effects through multiple channels, including commodity markets, trade, financial flows, displaced people, and market confidence. In the surrounding region, a large wave of refugees will put pressure on basic services. The damage to Russia’s economy will weigh on remittance flows to many neighboring countries. Disruptions to regional supply chains and financial networks, as well as heightened investor risk perceptions, will weaken regional growth

The war in Ukraine is causing an enormous humanitarian crisis. More than 12 million people are estimated to have been displaced and more than 13 million need urgent humanitarian assistance. Ukraine’s economy is being devastated. Trauma suffered by the population will have enduring consequences. The war is triggering global ripple effects through multiple channels, including commodity markets, trade, financial flows, displaced people, and market ...

The war in Ukraine is causing an enormous humanitarian crisis. More than 12 million people are estimated to have been displaced and more than 13 million need urgent humanitarian assistance. Ukraine’s economy is being devastated. Trauma suffered by the population will have enduring consequences. The war is triggering global ripple ...
Europe and Central Asia Economic Update, Spring 2022 : War in the Region

World Bank (2022-04-10)

In February 2022, the world was shocked by the Russian Federation’s invasion of Ukraine. The war is having a devastating impact on human life and causing economic destruction in both countries, and will lead to significant economic losses in the Europe and Central Asia (ECA) region and the rest of the world. It comes at a particularly vulnerable time for ECA as its economic recovery was expected to be held back by scarring from the pandemic and lingering structural weaknesses. The economic impact of the conflict has reverberated through multiple channels, including commodity and financial markets, trade and migration links, and the damaging impact on confidence. Moreover, the war has added to mounting concerns about a sharp global slowdown, surging inflation and debt, and a spike in poverty levels. Neighboring ECA countries are likely to suffer considerable economic damage because of their strong trade, financial, and migration links with Russia and Ukraine. The war is also causing a destabilizing wave of refugees, financial stresses in vulnerable countries, runaway inflation expecta ...

In February 2022, the world was shocked by the Russian Federation’s invasion of Ukraine. The war is having a devastating impact on human life and causing economic destruction in both countries, and will lead to significant economic losses in the Europe and Central Asia (ECA) region and the rest of the world. It comes at a particularly vulnerable time for ECA as its economic recovery was expected to be held back by scarring from the pandemic and lingering structural weaknesses. The economic impact of the conflict has reverberated through multiple ...

In February 2022, the world was shocked by the Russian Federation’s invasion of Ukraine. The war is having a devastating impact on human life and causing economic destruction in both countries, and will lead to significant economic losses in the Europe and Central Asia (ECA) region and the rest of the world. It comes at a particularly vulnerable time for ECA as its economic recovery was expected to be held ...

Follow World Bank Publications on Facebook, Twitter or Linked-In

Browse

Browse this collection

Author profiles

Site statistics

Focus

Browse

Browse this collection

Author profiles

Site statistics

Focus

The Economic and Fiscal Consequences of Financial Crises

Download

Published

Journal

Author(s)

Metadata

Abstract

Citation

URI

Collection(s)

This item appears in the following Collection(s)

Multinational Corporation Affiliates, Backward Linkages, and Productivity Spillovers in Developing and Emerging Economies : Evidence and Policy Making

Implications of the War in Ukraine for the Global Economy

Europe and Central Asia Economic Update, Spring 2022 : War in the Region

Default, Currency Crises, and Sovereign Credit Ratings

Financial Crises, Credit Ratings, and Bank Failures : An Introduction

From Health Crisis to Financial Distress

Stay Connected

Resources

About

News

Stay connected

Browse

Browse this collection

Author profiles

Site statistics

Focus

Browse

Browse this collection

Author profiles

Site statistics

Focus

The Economic and Fiscal Consequences of Financial Crises

Download

Published

Journal

Author(s)

Metadata

Abstract

Citation

URI

Collection(s)

This item appears in the following Collection(s)

Users also downloaded

Multinational Corporation Affiliates, Backward Linkages, and Productivity Spillovers in Developing and Emerging Economies : Evidence and Policy Making

Implications of the War in Ukraine for the Global Economy

Europe and Central Asia Economic Update, Spring 2022 : War in the Region

Related items

Default, Currency Crises, and Sovereign Credit Ratings

Financial Crises, Credit Ratings, and Bank Failures : An Introduction

From Health Crisis to Financial Distress