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.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
adjustment Africa assets associated average balance billion borrowing capital flows Central commodity corporate costs crises currency current account current account deficits debt decline deficits demand developing countries dollar domestic East Asia East Asian crisis Economic effects emerging markets estimates Europe exchange rate expected export external factors fall Figure financial crises firms fiscal foreign Fund global growth higher impact important improve income increase Indonesia industrial inflows initial institutions interest rates International investment Italy Japan Korea Latin America lending less levels liberalization loans losses lower macroeconomic Malaysia measures ment Mexico Monetary Note output percent Philippines poor poverty projections Prospects ratio recent recession recovery reduce reforms region Republic reserves responses restructuring rise risk sector severe short-term slow social Source South spreads stabilization strong Table term Thailand tion trade United Washington World Bank
Page 20 - 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 xxv - 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 186 - ... 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 155 - In N. Hermes and R. Lensink, eds., Financial Development and Economic Growth.
Page 200 - 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 201 - 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.
Page 115 - ... Market Economy. 2nd ed. Baltimore, Md.: Johns Hopkins University Press. Roubini, N., and Xavier Sala-i-Martin. 1992. "Financial Repression and Economic Growth." Journal of Development Economics 39: 5-30. Shaw, E. 1973. Financial Deepening in Economic Development. New York: Oxford University Press. Sheng, Andrew. 1996. Bank Restructuring: Lessons from the 1980s. Washington, DC: World Bank. Stiglitz, Joseph E. 1985. "Credit Markets and the Control of Capital.
Page 52 - In Stijn Claessens and Sudarshan Gooptu, eds., Portfolio Investment in Developing Countries. World Bank Discussion Paper 228. Washington, DC Harvey, Campbell. 1991. "The World Price of Covariance Risks." Journal of Finance 46(4):lll-57. . 1993. "Portfolio Enhancement Using Emerging Markets and Conditioning Information.