A Decade after the Global Recession : Lessons and Challenges for Emerging and Developing Economies

Cover -- Half Title -- Title -- Copyright -- Summary of Contents -- Contents -- Foreword -- Acknowledgments -- About the Authors -- Abbreviations -- PART I: Context -- Chapter 1 A Decade after the Global Recession: Lessons and Challenges -- Introduction -- Global recessions: Infrequent, but always costly -- Before the recession: A seemingly golden era -- During the recession: A highly synchronized contraction -- After the recession: The lackluster recovery -- A clouded horizon: Prospects and risks -- Lessons and policy challenges -- Synopsis -- References -- Chapter 2 What Happens during Global Recessions? -- Introduction -- Identification of turning points of the global business cycle -- Global recessions and recoveries: Dates and events -- Main features of global recessions, recoveries, and expansions -- Conclusion -- Annex 2A -- Annex 2B -- Annex 2C -- References -- PART II: In the Rearview Mirror -- Chapter 3 Macroeconomic Developments -- Introduction -- Before the global recession: Strong growth -- During the global recession: Resilience -- After the global recession: Protracted weakness -- Conclusion -- References -- Chapter 4 Financial Market Developments -- Introduction -- Before the global recession: Expansion and strengthening -- During the global recession: General resilience, with exceptions -- After the global recession: Growing debt and heightened vulnerabilities -- Changes in financial markets -- Conclusion -- References -- Chapter 5 Macroeconomic and Financial Sector Policies -- Introduction -- Macroeconomic policies -- Financial sector policies -- Capital flow management policies -- Conclusion -- References -- PART III: Looking Ahead -- Chapter 6 Prospects, Risks, and Vulnerabilities -- Introduction -- Prospects for growth -- Downside risks to growth prospects -- Rising vulnerabilities.