The Crisis Hits Home: Stress-Testing Households in Europe and Central Asia
The financial crisis and economic downturn threatens the welfare of more than 160 million people who are poor or are just above the poverty line in the economies of Eastern and Central Europe, the former Soviet Union, and Turkey. This note concerns the findings of recent World Bank analysis (Tiongson et al. 2010)1 that uses precrisis household data and aggregate macroeconomic outcomes in these countries to simulate the impact of the crisis on households—transmitted via credit market shocks, price shocks, and income shocks. The adverse effects are widespread, with both poor and nonpoor households being vulnerable. By 2010, for the region as a whole, it is estimated that some 11 million more people will be in poverty and more than 23 million additional people will find themselves just above the poverty line because of the crisis.
Volume (Year): (2010)
Issue (Month): 12 (May)
|Contact details of provider:|| Postal: 1818 H Street, N.W., Washington, DC 20433|
Phone: (202) 477-1234
Web page: http://www.worldbank.org/
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.:
- Sugawara, Naotaka & Sulla, Victor & Taylor, Ashley & Tiongson, Erwin R., 2010.
"The Crisis Hits Home: Stress-Testing Households in Europe and Central Asia,"
World Bank - Economic Premise,
The World Bank, issue 12, pages 1-4, May.
- Erwin R. Tiongson & Naotaka Sugawara & Victor Sulla & Ashley Taylor & Anna I. Gueorguieva & Victoria Levin & Kalanidhi Subbarao, 2010. "The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia," World Bank Publications, The World Bank, number 2396, January.
- Naotaka Sugawara & Victor Sulla & Ashley Taylor & Erwin R. Tiongson, 2010. "The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia," World Bank Other Operational Studies 10185, The World Bank.
- Alderman, H. & Paxson, C.H., 1992.
"Do the Poor Insure? A Synthesis of the Literature on Risk and Consumption in Developing Countries,"
164, Princeton, Woodrow Wilson School - Development Studies.
- Alderman, Harold & Paxson, Christina H & DEC, 1992. "Do the poor insure? A synthesis of the literature on risk and consumption in developing countries," Policy Research Working Paper Series 1008, The World Bank.
- World Bank, 2009. "Armenia : Implications of the Global Economic Crisis for Poverty," World Bank Other Operational Studies 3119, The World Bank.
- Meral Karasulu, 2008. "Stress Testing Household Debt in Korea," IMF Working Papers 08/255, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:wbk:prmecp:ep12. 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: (Michael Jelenic)
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.