The Great Recession and Developing Countries: Economic Impact and Growth Prospects (Part 1 of 2)

Contents Preface Contributors Abbreviations

xvii xix xxiii

Introduction

Otaviano Canuto and Justin Yifu Lin

Synthesis: Growth after the Global Recession in Developing Countries

Mustapha K. Nabli Comment: Luis Serv茅n

Brazil: Resilience in the Face of the Global Crisis

Fernando Blanco, Fernando de Holanda Barbosa Filho, and Samuel Pess么a Comment: David Rosenblatt

155

China: Global Crisis Avoided, Robust Economic Growth Sustained

161

Gallina A. Vincelette, Alvaro Manoel, Ardo Hansson, and Luis Kuijs Comment: Shahid Yusuf

197

Ethiopia: Sustaining Rapid Growth amidst Global Economic Crisis

203

Deepak Mishra Comment: Ishac Diwan

229 v

The Great Recession and Developing Countries: Economic Impact and Growth Prospects (Part 1 of 2)

Published on Nov 30, 2010

World Bank Publications

About

The 2008-09 financial crisis, which originated in the United States and rapidly spread to the rest of world, resulting in the most severe and intense Great Recession since World War II, has posed new challenges for international policy coordination and the management of national economies. Questions are being raised about globalization, which has been a powerful engine of economic growth over the past three decades but exposes countries to more volatility and increases risk. What policies and reforms increase the resilience of developing economies to such external shocks? Which institutional arrangements and policy frameworks would allow them to respond most quickly and effectively? What role is there for international policy coordination and for emerging economies?

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