A Second Stage of the Crisis Characterized by Uncertainty
From the second quarter of 2009, global economic activity began to show signs of recovery after the recession caused by the subprime crisis. However, the optimism of late 2009 has given way to greater caution on the speed of the recovery, particularly in developed countries. This marks a second stage of the crisis characterized by uncertainty about the chances of a sustainable recovery of the global economy. In this context, emerging and developing countries are showing a better economic performance, although one wonders if a "decoupling" is possible in an environment of weak growth in advanced countries. Parallel to the developments of the global economy, negotiations to reform the international financial architecture in the area of G-20 continued. The objective of this reform is to make the global economy less prone to crisis. Despite the progress in negotiations, it is still unclear how the new international financial system will look after the reforms and, especially, how this will impact on the performance of the global economy in the short and long run. This represents another factor of uncertainty.
Volume (Year): 1 (2010)
Issue (Month): 57-58 (January - June)
|Contact details of provider:|| Postal: |
Phone: (54-11) 4348-3582
Fax: (54-11) 4000-1257
Web page: http://www.bcra.gov.ar
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Olivier J. Blanchard & Mitali Das & Hamid Faruqee, 2010. "The Initial Impact of the Crisis on Emerging Market Countries," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 41(1 (Spring), pages 263-323.
When requesting a correction, please mention this item's handle: RePEc:bcr:ensayo:v:1:y:2010:i:57-58:p:189-227. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Federico Grillo)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.