Global Economic Prospects, January 2010 : Crisis, Finance, and Growth

World Bank

dc.creator	World Bank
dc.date	2012-03-19T09:33:04Z
dc.date	2012-03-19T09:33:04Z
dc.date	2010
dc.date.accessioned	2023-02-17T20:36:05Z
dc.date.available	2023-02-17T20:36:05Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20100219002746
dc.identifier	978-0-8213-8226-4
dc.identifier	http://hdl.handle.net/10986/2415
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/242824
dc.description	The world economy is emerging from the throes of a historically deep and synchronized recession provoked by the bursting of a global financial bubble. The consequences of the initial bubble and the crisis have been felt in virtually every economy, whether or not it participated directly in the risky behaviors that precipitated the boom-and-bust cycle. And while growth rates have picked up, the depth of the recession means that it will take years before unemployment and spare capacity are reabsorbed. This year's global economic prospects examines the consequences of the crisis for both the short and medium term growth prospects of developing countries. It concludes that the crisis and the regulatory reaction to the financial excesses of the preceding several years may have lasting impacts on financial markets, raising borrowing costs and lowering levels of credit and international capital flows. As a result, the rate of growth of potential output in developing countries may be reduced by between 0.2 and 0.7 percentage points annually over the next five to seven years as economies adjust to tighter financial conditions. Overall, the level of potential output in developing countries could be reduced by between 3.4 and 8 percent over the long run, compared with its pre-crisis path. The report further finds that the very liquid conditions of the first half of the decade contributed to the expansion in credit available in developing countries and that this expansion was responsible for about 40 percent of the approximately 1.5 percentage point acceleration of the pace at which many developing-country economies could grow without generating significant inflation. While developing countries probably cannot reverse the expected tightening in international financial conditions, there is considerable scope for reducing domestic borrowing costs, or increasing productivity and thereby regaining the higher growth path that the crisis has derailed.
dc.language	English
dc.publisher	World Bank
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo
dc.rights	World Bank
dc.subject	ACCESS TO CAPITAL
dc.subject	ASSET PRICE
dc.subject	BALANCE SHEETS
dc.subject	BANK CREDIT
dc.subject	BANK LENDING
dc.subject	BANKING MARKETS
dc.subject	BANKING SECTOR
dc.subject	BANKING SECTOR EFFICIENCY
dc.subject	BANKING SECTORS
dc.subject	BANKING SYSTEM
dc.subject	BASIS POINT
dc.subject	BASIS POINTS
dc.subject	BOND
dc.subject	BOND FLOWS
dc.subject	BOND INDEX
dc.subject	BOND MARKETS
dc.subject	BOOM-BUST CYCLE
dc.subject	BOOM-BUST CYCLES
dc.subject	BORROWERS
dc.subject	BORROWING COSTS
dc.subject	BORROWING REQUIREMENTS
dc.subject	BUDGET
dc.subject	BUDGET DEFICITS
dc.subject	CAPITAL ACCOUNT
dc.subject	CAPITAL ACCOUNT LIBERALIZATION
dc.subject	CAPITAL CONSTRAINT
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL INFLOWS
dc.subject	CAPITAL INVESTMENT
dc.subject	CAPITAL REQUIREMENTS
dc.subject	CAPITAL SHORTAGES
dc.subject	CENTRAL BANK
dc.subject	CENTRAL BANKS
dc.subject	COLLATERAL
dc.subject	COMMERCIAL BANK
dc.subject	COMMERCIAL BANKS
dc.subject	COMMODITY PRICE
dc.subject	COMMODITY PRICES
dc.subject	CONSUMER PRICE INDEX
dc.subject	COUNTRY RISK
dc.subject	CREDIT DEFAULT
dc.subject	CREDIT DEFAULT SWAPS
dc.subject	CREDIT EXPANSION
dc.subject	CREDIT GROWTH
dc.subject	CREDIT MARKETS
dc.subject	CREDIT PROVISION
dc.subject	CREDIT RATING
dc.subject	CROSS-BORDER FLOWS
dc.subject	CURRENCIES
dc.subject	CURRENT ACCOUNT DEFICIT
dc.subject	CURRENT ACCOUNT DEFICITS
dc.subject	CURRENT ACCOUNT SURPLUS
dc.subject	DEBT FINANCING
dc.subject	DEBT FLOWS
dc.subject	DEBT OBLIGATIONS
dc.subject	DEPOSIT
dc.subject	DEPOSIT MONEY BANKS
dc.subject	DERIVATIVE
dc.subject	DERIVATIVE TRANSACTIONS
dc.subject	DERIVATIVES
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPING COUNTRY
dc.subject	DOMESTIC BANK
dc.subject	DOMESTIC BANKING
dc.subject	DOMESTIC BANKS
dc.subject	DOMESTIC BORROWING
dc.subject	DOMESTIC CREDIT
dc.subject	DOMESTIC FINANCIAL MARKETS
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	EMERGING ECONOMIES
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKETS
dc.subject	EQUITY
dc.subject	EQUITY CAPITAL
dc.subject	EQUITY FLOWS
dc.subject	EQUITY MARKET
dc.subject	EQUITY MARKETS
dc.subject	EXCHANGE
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATES
dc.subject	EXPORTERS
dc.subject	EXTERNAL DEBT
dc.subject	EXTERNAL FINANCE
dc.subject	EXTERNAL INDEBTEDNESS
dc.subject	FEDERAL RESERVE
dc.subject	FEDERAL RESERVE BANK
dc.subject	FINANCE
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL FLOWS
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INSTRUMENTS
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL OPENNESS
dc.subject	FINANCIAL SYSTEM
dc.subject	FINANCIAL SYSTEMS
dc.subject	FISCAL DEFICITS
dc.subject	FISCAL POLICY
dc.subject	FIXED INVESTMENT
dc.subject	FLEXIBLE EXCHANGE RATES
dc.subject	FOREIGN BANK
dc.subject	FOREIGN BANK PARTICIPATION
dc.subject	FOREIGN BANKS
dc.subject	FOREIGN CAPITAL
dc.subject	FOREIGN DIRECT INVESTMENT
dc.subject	FOREIGN INVESTMENT
dc.subject	FOREIGN INVESTMENT BANKS
dc.subject	FUTURE
dc.subject	GLOBAL BANKING
dc.subject	GLOBAL ECONOMY
dc.subject	GLOBAL FINANCE
dc.subject	GLOBAL MARKETS
dc.subject	GLOBAL TRADE
dc.subject	GOOD
dc.subject	GOODS
dc.subject	GOVERNMENT BOND
dc.subject	GOVERNMENT DEBT
dc.subject	GOVERNMENT REVENUES
dc.subject	GOVERNMENT SECURITIES
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GUARANTEE
dc.subject	HOLDINGS
dc.subject	INDEBTEDNESS
dc.subject	INFLATION
dc.subject	INFLATION RATES
dc.subject	INFLATIONARY PRESSURES
dc.subject	INFORMAL LENDERS
dc.subject	INFRASTRUCTURE INVESTMENT
dc.subject	INITIAL PUBLIC OFFERINGS
dc.subject	INSTITUTIONAL INVESTORS
dc.subject	INSURANCE
dc.subject	INTEREST
dc.subject	INTEREST PAYMENTS
dc.subject	INTEREST RATE
dc.subject	INTEREST RATE SPREADS
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BANKING
dc.subject	INTERNATIONAL CAPITAL
dc.subject	INTERNATIONAL DEVELOPMENT
dc.subject	INTERNATIONAL FINANCE
dc.subject	INTERNATIONAL FINANCIAL STATISTICS
dc.subject	INTERNATIONAL FINANCIAL SYSTEM
dc.subject	INTERNATIONAL INVESTORS
dc.subject	INTERNATIONAL MARKET
dc.subject	INTERNATIONAL SETTLEMENTS
dc.subject	INVENTORIES
dc.subject	INVENTORY
dc.subject	INVESTMENT
dc.subject	INVESTMENT ACTIVITY
dc.subject	INVESTMENT BANKS
dc.subject	INVESTMENT CLIMATES
dc.subject	INVESTMENT RATES
dc.subject	INVESTMENT VEHICLES
dc.subject	INVESTMENTS
dc.subject	INVESTOR
dc.subject	INVESTOR CONFIDENCE
dc.subject	IPO
dc.subject	ISSUANCES
dc.subject	LENDERS
dc.subject	LEVEL OF INTEREST RATES
dc.subject	LIQUIDITY
dc.subject	LOAN
dc.subject	LOAN PORTFOLIOS
dc.subject	LOCAL CURRENCY
dc.subject	LOCAL STOCK MARKET
dc.subject	MACROECONOMIC CONDITIONS
dc.subject	MACROECONOMIC POLICIES
dc.subject	MACROECONOMIC STABILITY
dc.subject	MARKET BORROWERS
dc.subject	MONETARY AUTHORITY
dc.subject	MONETARY FUND
dc.subject	MONETARY POLICY
dc.subject	MONEY MARKETS
dc.subject	MUTUAL FUNDS
dc.subject	NET DEBT
dc.subject	NONPERFORMING LOANS
dc.subject	OIL PRICE
dc.subject	OIL PRICES
dc.subject	OPEN ECONOMIES
dc.subject	OPPORTUNITY COST
dc.subject	PORTFOLIO
dc.subject	PORTFOLIO FLOWS
dc.subject	POVERTY
dc.subject	PRIVATE CAPITAL
dc.subject	PRIVATE CREDIT
dc.subject	PRIVATE FINANCE
dc.subject	PROPERTY
dc.subject	PROPERTY RIGHTS
dc.subject	PURCHASING POWER
dc.subject	RATE OF RETURN
dc.subject	REAL INTEREST
dc.subject	REAL INTEREST RATES
dc.subject	REGULATORY FRAMEWORK
dc.subject	REGULATORY REACTION
dc.subject	REMITTANCES
dc.subject	RESERVE
dc.subject	RESERVES
dc.subject	RETURN
dc.subject	RETURNS
dc.subject	REVENUES
dc.subject	RISK ASSESSMENTS
dc.subject	RISK AVERSION
dc.subject	RISK PREMIUMS
dc.subject	RISK SHARING
dc.subject	RULE OF LAW
dc.subject	SHARE
dc.subject	SHARE OF INVESTMENT
dc.subject	SOFT LOANS
dc.subject	SOVEREIGN DEBT
dc.subject	STOCK
dc.subject	STOCK MARKET
dc.subject	STOCK MARKET CAPITALIZATION
dc.subject	STOCK MARKET VOLATILITY
dc.subject	STOCK MARKETS
dc.subject	SWAP
dc.subject	T-BILL
dc.subject	TRADE FINANCE
dc.subject	TRADE LIBERALIZATION
dc.subject	TRANSITION COUNTRIES
dc.subject	TREASURY
dc.subject	TREASURY BILL
dc.subject	WITHDRAWAL
dc.title	Global Economic Prospects, January 2010 : Crisis, Finance, and Growth
dc.type	Publications & Research :: Publication
dc.type	Publications & Research