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The Global Economic and Financial Crisis: A Review and Commentary

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  • Singh, A.
  • Zammit, A.

Abstract

This paper provides a review and commentary on the current financial and economic crisis. It considers important analytical and policy issues from a global and North-South perspective. The analytical questions cover issues such as the better than expected performance of the world economy, the role of global financial imbalances, and whether or not economic theory has been helpful. It is argued that close international cooperation and policy coordination are essential to recovery and an improved distribution of the fruits of growth. Cooperation and financial regulation are particularly necessary in order to prevent international contagion and cascading sovereign debt defaults.

Suggested Citation

  • Singh, A. & Zammit, A., 2010. "The Global Economic and Financial Crisis: A Review and Commentary," Working Papers wp415, Centre for Business Research, University of Cambridge.
    • Handle: RePEc:cbr:cbrwps:wp415
    Note: PRO-2
    as

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    References listed on IDEAS

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    1. Glyn, Andrew & Hughes, Alan & Lipietz, Alan & Sigh, Ajit, "undated". "The Rise and Fall of the Golden Age," WIDER Working Papers 295573, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    2. Albert Fishlow., 1987. "Some Reflections on Comparative Latin American Economic Performance and Policy," Economics Working Papers 8754, University of California at Berkeley.
    3. Richard N. Cooper, 2005. "Living with Global Imbalances: A Contrarian View," Policy Briefs PB05-03, Peterson Institute for International Economics.
    4. repec:ilo:ilowps:397934 is not listed on IDEAS
    5. Singh, Ajit., 2007. "Globalisation, industrial revolutions in India and China and labour markets in advanced countries : implications for national and international economic policy," ILO Working Papers 993979343402676, International Labour Organization.
    6. Karl Aiginger, 2009. "The Current Economic Crisis: Causes, Cures and Consequences," WIFO Working Papers 341, WIFO.
    7. S. Narayan, 2009. "India," Chapters, in: Peter Draper & Philip Alves & Razeen Sally (ed.), The Political Economy of Trade Reform in Emerging Markets, chapter 7, Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Financial and economic crisis; global financial imbalances; global economic cooperation;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • G1 - Financial Economics - - General Financial Markets
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • N2 - Economic History - - Financial Markets and Institutions
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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