Hidden Bibliographic Details
| Other authors / contributors: | Berg, Andrew, author.
International Monetary Fund. Research Department, issuing body.
International Monetary Fund. Strategy, Policy, and Review Department, issuing body.
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| ISBN: | 9781455278107
1455278106
145521681X
9781455216819
1283566311
9781283566315
1462300227
9781462300228
9786613878762
6613878766
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| Notes: | Includes bibliographical references.
English.
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| Summary: | This paper investigates the short-run effects of the 2007-09 global financial crisis on growth in (mainly non-fuel exporting) low-income countries (LICs). Four conclusions stand out. First, for many individual LICs, 2009 was not extraordinarily calamitous; however, aggregate LIC output declined sharply because LICs were unusually synchronized. Second, the growth declines are on average well explained by the decline in export demand. Third, if the external environment facing LICs improves as forecast, their growth should rebound sharply. Finally, and contrary to received wisdom, there are few robust relationships between the cross-country growth variation and the policy and structural environment; the main exceptions are reserve coverage and labor-market flexibility.
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| Other form: | Print version: Papageorgiou, Chris. Global Shocks and their Impact on Low-Income Countries: Lessons from theGlobal Financial Crisis. Washington : International Monetary Fund, ©2011 9781455216741
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| Standard no.: | 10.5089/9781455216819.001
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