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Begin New Search Topic Global Recession Publishing Institution Oxfam Publishing

1. Consumption boosts China's resilience but risks of a property bust still loom

Publication Date:
01-2012
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
With the outlook for exports subdued and investment weak, we expect industrial output growth to slow further in 2012H1. But consumption is taking up the slack and fiscal policy is set to be supportive. As a result, we only expect a relatively modest slowing in growth in 2012 to 8.4% from 9.2% in 2011. But with house prices still falling in December, we remain concerned about the risk of a sharp slowing in the property market leading to strains on local government finances and a hard landing for growth, particularly with the external environment weak. However, central government finances are strong and fiscal transfers could provide a significant cushion in the event of a property bust.
Topic:
Communism, Economics, Government, International Trade and Finance, and Global Recession
Political Geography:
China and Israel

2. The Impact of the Global Financial Crisis on the Budgets of Low-Income Countries

Author:
Katerina Kyrili and Matthew Martin
Publication Date:
07-2010
Content Type:
Working Paper
Institution:
Oxfam Publishing
Abstract:
The financial crisis has hit developing countries hard, driving millions more people into poverty and reversing several years of rapid progress towards the Millennium Development Goals (MDGs). For most of the poorest people, the impact will depend on what governments do with their budgets–how much they spend to fight against the crisis, protect the poorest, and revive progress towards the MDGs. This report examines what 56 low-income countries have done in 2009 and are planning to do in 2010. It is unique in drawing on budget documents issued in June–December 2009, and therefore in being able to describe what is happening in detail, in order to look ahead to 2010 and beyond. This study is particularly timely as the deadline for countries to reach the MDGs is now only five years away.
Topic:
Development, Poverty, Third World, Global Recession, and Financial Crisis
Political Geography:
Africa

3. A Crisis Multiplied: How the global economic crisis, coming on top of other shocks, is worsening poverty in Burkina Faso

Author:
Elizabeth Stuart
Publication Date:
07-2010
Content Type:
Working Paper
Institution:
Oxfam Publishing
Abstract:
It is a stable democracy, with an efficient and increasingly transparent government. The entire budget is published online. Strong education and health plans are in place, and the government promotes the use of generic medicines. In recent years growth has been consistently robust, at around 6 percent. The country hosts a world-renowned film festival. It has consistently sought to reform and modernize, just as the IMF and World Bank have prescribed. And, in turn, donors love to fund it. It was, for instance, one of the first countries to qualify for debt relief under the Heavily Indebted Poor Countries (HIPC) programme. So confident is the international community that its money will be in safe hands that it readily gives budget support – which is very positive, as this form of aid allows the government to fund recurrent expenditures such as teachers' and doctors' salaries, though from a donor's perspective it is more difficult to trace, in large amounts.
Topic:
Economics, Markets, Poverty, Third World, Global Recession, and Financial Crisis