Lessons from World Bank research on financial crises / Development Research Group.

Format:

Book

Government document

Author/Creator:

Development Research Group.

Contributor:

World Bank.

Series:

Policy research working papers ; 4779.

World Bank e-Library.

Policy research working paper ; 4779

Language:

English

Subjects (All):

Financial crises.

Other Title:

Policy research working paper vol. 4779

Place of Publication:

[Washington, D.C. : World Bank, 2008]

System Details:

data file

Summary:

"The benefits of financial development and globalization have come with continuing fragility in financial sectors. Periodic crises have had real but heterogeneous welfare impacts and not just for poor people; indeed, some of the conditions that foster deep and persistent poverty, such as lack of connectivity to markets, have provided a degree of protection for the poor. Past crises have also had longer-term impacts for some of those affected, most notably through the nutrition and schooling of children in poor families. As in other areas of policy, effective responses to a crisis require sound data and must take account of incentives and behavior. An important lesson from past experience is that the short-term responses to a crisis-macroeconomic stabilization, trade policies, financial sector policies and social protection-cannot ignore longer-term implications for both economic development and vulnerability to future crises. "--World Bank web site.

Notes:

Title from PDF file as viewed on 3/17/2009.

Includes bibliographical references.

Publisher Number:

10.1596/1813-9450-4779