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Financial crises & recovery
Voices from the south: the impact of the financial crisis on developing countries (pdf 1.2mb)
Twenty-one thinkers, academics and policymakers from 14 developing countries present snapshot views of how the financial crisis is affecting their countries.They present their views on the likely impacts and possible responses to the crisis. Results show that developing countries cannot be treated as a homogenous block - concerns vary significantly across countries, depending on their current economic situation, exposure to specific impacts and capacity to respond. Isolation from world financial markets will not protect the poorest countries, as the indirect impacts are likely to be severe.
The report identifies six main pathways of impact:
1. Exports
2. Foreign investment
3. Exchange rate
4. Interest rates
5. Remittances
6. Foreign aid
It also proposes three specific policies that should be pursued:
1. Increase aid flows
2. Enhance social protection
3. Restructure International Financial Institutions
- Resource link:
http://www.ids.ac.uk/UserFiles/ file/globalisation_team/ financial_crisis/ Voices%20from%20the%20South%20Report.pdf - Published: 2008
- Source: Institute of Development Studies (http://www.ids.ac.uk)
- Added to ADG on: 12 January 2009 , contributed by: ADG team
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