Global Economic Prospects and the Developing Countries: 1998/99, Beyond Financial Crisis
This ninth annual edition analyzes short- and long-term future prospects for developing countries in the wake of the East Asia crisis; maps out policies to deal with crises once they erupt; and focuses on ways of preventing future crises on the scale of East Asia's recent experience. The recent crises have exacted an enormous social cost, placing a large burden on the poor and, in some countries, heightening social conflict. The social consequences are likely to be protracted. Social policy concerns must be an integral "up front" part of the selection for overall policy responses to the economic crisis. While never a substitute for sound pro-growth macroeconomic policies, social safety nets can play an important part in mitigating the social effects of crises. According to this report, the lesson coming out of the East Asia crisis is for developing countries to benefit from globalization, and not to retreat from it, by strengthening their institutions and deepening their reforms.
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Argentina Asian crisis countries asset prices balance banking crises billion borrowing capital account Caribbean consumption corporate costs coun credit crunch currency crises current account deficits decline devaluation developing countries East Asia East Asian countries East Asian crisis economic effects emerging markets equity estimates Europe and Central exchange rate expected export external fall Figure financial crises financial markets financial sector financial system fiscal forecast foreign GDP growth global impact important income increase Indonesia industrial countries inflation inflows institutions interest rates International Monetary Fund investment investors Japan Korea Latin America lending loans macroeconomic Malaysia ment Mexico Middle East monetary policy moral hazard nomic output growth percent of GDP Philippines policy responses portfolio poverty private capital flows ratio recession recovery reduce reforms region Republic risk slowdown Source stabilization Sub-Saharan Africa Table terms of trade Thailand tion U.S. dollar United volatility vulnerability Washington World Bank
Page 18 - co-generation" is used. ECU European Currency Unit EU The European Union, whose members are Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden and the United Kingdom.
Page xxiii - Governors of the 10 countries (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom and the United States) participating in the General Arrangements to Borrow (GAB) met under the chairmanship of Mr.
Page 190 - ... agreement. b. Simple average applied rate (latest year available). c. Share of total tariff schedule. d. Simple average of country tariff coefficients of variation, where a country tariff coefficient of variation is the standard deviation for applied tariff lines divided by the applied tariff. e. Latin America and the Caribbean: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Mexico, Paraguay, Peru, Uruguay, and Venezuela. f. East Asia and Pacific: Fiji,...
Page 159 - In N. Hermes and R. Lensink, eds., Financial Development and Economic Growth.
Page 204 - Antigua and Barbuda, Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Uruguay, Venezuela.
Page 205 - This table classifies all World Bank member economies and all other economies with populations of more than 30,000. Economies are divided among income groups according to 2002 GNI per capita, calculated using the World Bank Atlas method.
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