Emerging from the global crisis : macroeconomic challenges facing low-income countries / a staff team led by Stefania Fabrizio.

Format:

Book

Government document

Contributor:

Fabrizio, Stefania.

International Monetary Fund.

Language:

English

Subjects (All):

Global Financial Crisis, 2008-2009.

Financial crises--Developing countries.

Financial crises.

Developing countries.

Economic development--Developing countries.

Economic development.

Physical Description:

xiii, 96 pages : charts (some color) ; 28 cm

Place of Publication:

[Washington, D.C.] : International Monetary Fund, [2010]

Summary:

Although the impact of the global crisis has been severe, real per capita GDP growth stayed positive in two-thirds of low-income countries (LICs), unlike in previous global downturns, and in contrast to richer countries. This publication explores how LICS have coped with the global economic crisis. It reviews the impact of the crisis on LICs, domestic policy responses to the crisis, and the precrisis conditions of select countries. The prospects and challenges that LICs face are also considered. Sections of the paper look at growth prospects, policy recommendations, the general macroeconomic outlook, as well as the rebuilding of fiscal buffers. The authors also "stress-test" LICs' exposure to further volatility by using a hypothetical "downside" recovery scenario.--Publisher's description.

Contents:

Machine generated contents note: 1. How Have LICs Coped with the Crisis?

Impact of the Crisis

LICs' Precrisis Position

Domestic Policy Responses to the Crisis

2. Emerging from the Crisis

Prospects and Macroeconomic Challenges

Growth Prospects

Macroeconomic Outlook: Realigning Policies and Rebuilding Buffers

How LICs Would Cope With Renewed Stress: An Illustrative Scenario

Realigning Policies and Rebuilding Buffers: Policy Recommendations

Appendices

1. List of LICs

2. Distribution of Median Real GDP Growth and Change in Real GDP by Year, 1971

2009

3. Selected Economic Indicators

4. The Impact of the Crisis on Financial Systems and Credit Developments

5. Buffer Index

6. Estimation of Determinants of Change in Primary Balance to GDP in 2009

7. Growth Regression: Estimating the Impact of Fiscal Policy

8. Exchange Market Pressure Index

9. Illustrative Classification of LIC Policy Buffers

10. Methodology to Analyze the Impact of a Negative Growth Shock on the Fiscal Position, Current Account, and Reserves.

Notes:

Includes bibliographical references (pages 94-96).

ISBN:

9781616350734

1616350733

OCLC:

703652646