1. The evolving post-crisis world
- Author:
- Stephen Grenville
- Publication Date:
- 04-2010
- Content Type:
- Working Paper
- Institution:
- Lowy Institute for International Policy
- Abstract:
- The worst of the global financial crisis (GFC) is over, but it has left scars, principally in the form of fiscallydriven debt increases, balance sheets that still need repair and high unemployment in the principal crisis countries. There is also unfinished business from the precrisis period, in the form of external imbalances. More positively, the crisis offers lessons about economic policymaking that may improve the way things are done. Of course the main lessons are for the developed countries that were at the centre of the crisis. But the countries of the region had to cope with the backwash, and in doing so lessons were learned. In addition, the lessons in the crisis countries, learned in an environment of extreme stress, may have relevance for the emerging market economies of this region.
- Topic:
- Development, Emerging Markets, and Financial Crisis
- Political Geography:
- China, India, and Asia