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The Great Recession and Developing Countries : Economic Impact and Growth Prospects

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  • Mustapha K. Nabli
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    Abstract

    While globalization has been a powerful engine of economic growth over the past three decades, it has also posed new problems and challenges, especially for international economic policy coordination. In the past decade, the large and rapid increases in trade, remittances, and international financial flows across borders have been a strong incentive for economic growth, not only in East and South Asia but also in Latin America and Sub-Saharan Africa. And rapid and sustained economic growth in several low- and middle-income economies has been steadily altering the economic weights of different regions in the world economy. The ten case studies in this volume illustrate the wide range of effects of, and responses to, the global crisis in low-and middle-income economies. While the case studies do not constitute a statistically representative sample of the globe, they illustrate a broad range of experiences in the wake of the crisis and give insights into both the benefits and challenges of globalization. The use of a common methodology in preparing the cases unquestionably facilitates cross-country comparisons and helps identify areas where more study is needed to increase the understanding of the current problems of, and prospects for, developing countries.

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    Bibliographic Info

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    This book is provided by The World Bank in its series World Bank Publications with number 2539 and published in 2011.

    ISBN: 978-0-8213-8513-5
    Handle: RePEc:wbk:wbpubs:2539

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    1. Anh Ngoc Nguyen & Nguyen Thang & Le Dang Trung & Ngoc Quang Pham & Chuc Dinh Nguyen & Nhat Duc Nguyen, 2008. "Foreign Direct Investment in Vietnam: Is There Any Evidence Of Technological Spillover Effects," Working Papers 18, Development and Policies Research Center (DEPOCEN), Vietnam.
    2. Eswar S. Prasad, 2009. "Rebalancing Growth in Asia," NBER Working Papers 15169, National Bureau of Economic Research, Inc.
    3. Nguyen Viet Cuong, 2009. "Can Vietnam achieve millennium development goal on poverty reduction in high inflation and economic stagnation?," Working Papers 01, Development and Policies Research Center (DEPOCEN), Vietnam.
    4. Henk Kranendonk & Johan Verbruggen, 2008. "Decomposition of GDP growth in European countries; different methods tell different stories," CPB Document 158, CPB Netherlands Bureau for Economic Policy Analysis.
    5. Chris Manning, 2009. "Globalisation and Labour Markets in Boom and Crisis: The Case of Vietnam," Departmental Working Papers 2009-17, The Australian National University, Arndt-Corden Department of Economics.
    6. Juthathip Jongwanich, 2010. "Determinants of Export Performance in East and Southeast Asia," The World Economy, Wiley Blackwell, vol. 33(1), pages 20-41, 01.
    7. Menon, Jayant, 2009. "Managing Success in Viet Nam: Macroeconomic Consequences of Large Capital Inflows with Limited Policy Tools," Working Papers on Regional Economic Integration 27, Asian Development Bank.
    8. Abbott, Philip & Bentzen, Jeanet & Tarp, Finn, 2009. "Trade and Development: Lessons from Vietnam's Past Trade Agreements," World Development, Elsevier, vol. 37(2), pages 341-353, February.
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