The Global Financial Crisis and Development: Implications for the Entrepreneurial Economy
This paper provides an evaluation of the state of global development two years after the global financial crisis of 2008. It argues that in the wake of the crisis a number of re‐assessments of global development has taken place, especially with respect to (i) the surprising origins of the crisis, (ii) the surprising resilience of the developing world, and (iii) the shortcomings of the global financial architecture (GFA). Despite these re‐assessments, progress in dealing with the deep causes of the crisis has been slow, and there are strong vested interests against reform of the GFA due to the incentives that many years of deregulation and regulatory capture has created. These incentives influences entrepreneurial and managerial behaviour in ways that may frustrate reform and re‐regulation and leave global development vulnerable to further financial (and other) crises. The paper draws out some implications for the entrepreneurial economy.
|Date of creation:||Jan 2011|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +31 43 387 08 08
Fax: +31 43 387 08 00
Web page: http://research.msm.nlEmail:
More information through EDIRC
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.:
- Wim Naude & Adam Szirmai & Micheline Goedhuys, 2011.
"Innovation and Entrepreneurship in Developing Countries,"
- Wim Naudé & Adam Szirmai & Micheline Goedhuys, 2011. "Innovation and Entrepreneurship in Developing Countries," Working Paper Series UNU-WIDER Policy Brief Pb, World Institute for Development Economic Research (UNU-WIDER).
- Gary Clyde Hufbauer & Jeffrey J. Schott, 2009. "Buy American: Bad for Jobs, Worse for Reputation," Policy Briefs PB09-2, Peterson Institute for International Economics.
- Bezemer, Dirk, 2009. "No one saw this coming. Understanding financial crisis through accounting models," Research Report 09002, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises; A New Database," IMF Working Papers 08/224, International Monetary Fund.
- Gries Thomas & Naude Wim, 2011.
"Entrepreneurship, Structural Change and a Global Economic Crisis,"
Entrepreneurship Research Journal,
De Gruyter, vol. 1(3), pages 1-43, July.
- Gries, Thomas & Naude, Wim, 2010. "Entrepreneurship, Structural Change and a Global Economic Crisis," Working Paper Series wp2010-57, World Institute for Development Economic Research (UNU-WIDER).
- Marco Cagetti & Mariacristina De Nardi, 2003.
"Entrepreneurship, frictions, and wealth,"
322, Federal Reserve Bank of Minneapolis.
- Audretsch, David B. & Sanders, Mark, 2009. "Technological Innovation, Entrepreneurship and Development," MERIT Working Papers 052, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- Fosu, Augustin Kwasi & Naude, Wim, 2009. "The Global Economic Crisis: Towards Syndrome-Free Recovery for Africa," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
- Jörg Mayer, 2010. "Global Rebalancing: Effects On Trade Flows And Employment," UNCTAD Discussion Papers 200, United Nations Conference on Trade and Development.
- Ihrig, Jane & Moe, Karine S., 2004. "Lurking in the shadows: the informal sector and government policy," Journal of Development Economics, Elsevier, vol. 73(2), pages 541-557, April.
- Naude, Wim & MacGee, James, 2009. "Wealth Distribution, the Financial Crisis and Entrepreneurship," Working Paper Series WIDER Angle newsletter Ma, World Institute for Development Economic Research (UNU-WIDER).
When requesting a correction, please mention this item's handle: RePEc:msm:wpaper:2011/01. 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: (Maud de By)
If references are entirely missing, you can add them using this form.