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The Global Economic and Financial Crisis: A Review and Commentary

Author

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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
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    References listed on IDEAS

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    More about this item

    Keywords

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    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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