IDEAS home Printed from
   My bibliography  Save this article

Global Crises and Developing Countries: Financial, Environmental, Resource and Food Perspectives


  • van der Ploeg, Frederick


The global financial crisis has potentially many adverse effects on the developing world: falls in exports of goods and services to the OECD, dramatic falls in commodity prices and resource exports, and falls in remittances. Many of the poorer countries are heavily specialized and dependent on natural resources, often landlocked, ethnically polarized, and financially underdeveloped. They therefore suffer especially from the notorious volatility of natural resource prices. Volatile oil prices harm not only producers and consumers in the developing world, but also harm environmental quality if they hold back irreversible investments in costly energy-saving technology and hydrocarbon substitutes. In the aftermath of the crisis, political leaders should seek for a global deal whereby resource-rich developing countries are helped to cope with managing very volatile streams of resource revenues while cutting back pollution of the energy industries. The global crisis facing the world today is thus not only a financial crises, but also a fuel and commodity crisis. In addition, the world also faces a food, water, and climate change crisis, all of which undermine the ability to sustain prosperity and eradicate poverty in the developing world. Hence, the contours of a Global Green New Deal will be sketched.

Suggested Citation

  • van der Ploeg, Frederick, 2009. "Global Crises and Developing Countries: Financial, Environmental, Resource and Food Perspectives," International Review of Environmental and Resource Economics, now publishers, vol. 3(2), pages 119-160, September.
  • Handle: RePEc:now:jirere:101.00000023

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item


    Global crises; Natural resources; Environment; Volatility; Poverty;

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • G1 - Financial Economics - - General Financial Markets
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:now:jirere:101.00000023. 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: (Alet Heezemans). General contact details of provider: .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.