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Learning from developing country experience : growth and economic thought before and after the 2008-09 crisis

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  • Harrison, Ann
  • Sepulveda, Claudia

Abstract

The aim of this paper is twofold. First, it documents the changing global landscape before and after the crisis, emphasizing the shift towards multipolarity. In particular, it emphasizes the ascent of developing countries in the global economy before, during, and after the crisis. Second, it explores what these global economic changes and the recent crisis imply for shifts in the direction of research in development economics. The paper places a particular emphasis on the lessons that developed countries can learn from the developing world.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 5752.

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Date of creation: 01 Aug 2011
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Handle: RePEc:wbk:wbrwps:5752

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Keywords: Achieving Shared Growth; Emerging Markets; Population Policies; Economic Theory&Research; Debt Markets;

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  1. Anthony B. Atkinson & Thomas Piketty & Emmanuel Saez, 2011. "Top Incomes in the Long Run of History," Journal of Economic Literature, American Economic Association, vol. 49(1), pages 3-71, March.
  2. Commission on Growth and Development, 2008. "The Growth Report : Strategies for Sustained Growth and Inclusive Development," World Bank Publications, The World Bank, number 6507.
  3. Philippe Aghion & Ioana Marinescu, 2008. "Cyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel Data?," NBER Chapters, in: NBER Macroeconomics Annual 2007, Volume 22, pages 251-278 National Bureau of Economic Research, Inc.
  4. Graciela L. Kaminsky & Carmen M. Reinhart & Carlos A. Vegh, 2004. "When it Rains, it Pours: Procyclical Capital Flows and Macroeconomic Policies," NBER Working Papers 10780, National Bureau of Economic Research, Inc.
  5. Maureen Lewis & Marijn Verhoeven, 2010. "Financial Crises and Social Spending : The Impact of the 2008-2009 Crisis," World Bank Other Operational Studies 12965, The World Bank.
  6. Frederic S. Mishkin, 2010. "Over The Cliff: From the Subprime to the Global Financial Crisis," NBER Working Papers 16609, National Bureau of Economic Research, Inc.
  7. Harrison, Ann & Rodríguez-Clare, Andrés, 2010. "Trade, Foreign Investment, and Industrial Policy for Developing Countries," Handbook of Development Economics, Elsevier, Elsevier.
  8. Justin Yifu Lin, 2011. "New Structural Economics: A Framework for Rethinking Development," World Bank Research Observer, World Bank Group, World Bank Group, vol. 26(2), pages 193-221, August.
  9. Lin, Justin Yifu & Monga, Celestin, 2011. "Growth identification and facilitation : the role of the state in the dynamics of structural change," Policy Research Working Paper Series 5313, The World Bank.
  10. World Bank & International Monetary Fund, 2010. "Global Monitoring Report 2010 : The MDGs after the Crisis," World Bank Publications, The World Bank, number 2444.
  11. Luosha Du & Ann Harrison & Gary Jefferson, 2011. "FDI Spillovers and Industrial Policy: The Role of Tariffs and Tax Holidays," NBER Working Papers 16767, National Bureau of Economic Research, Inc.
  12. Jeffrey A. Frankel & George Saravelos, 2010. "Are Leading Indicators of Financial Crises Useful for Assessing Country Vulnerability? Evidence from the 2008-09 Global Crisis," NBER Working Papers 16047, National Bureau of Economic Research, Inc.
  13. Maureen Lewis & Marijn Verhoeven, 2010. "Financial Crises and Social Spending," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 11(4), pages 79-110, October.
  14. Michael D. Bordo, 2008. "An Historical Perspective on the Crisis of 2007-2008," NBER Working Papers 14569, National Bureau of Economic Research, Inc.
  15. Julia Darby & Jacques Melitz, 2008. "Social spending and automatic stabilizers in the OECD," Economic Policy, CEPR;CES;MSH, CEPR;CES;MSH, vol. 23, pages 715-756, October.
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