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financial crisis

International debt flows before and after the financial crisis

Evis Rucaj's picture

New debt statistics show that the composition of long term debt inflows in 2011 follows pre-crisis patterns.

Debt statistics are central to understanding the impact of the financial crisis; the World Bank's International Debt Statistics provides a detailed picture of debt flows of 128 developing countries. Now that the 2013 edition has been released, and as a member of the team that put it together, I thought I would look back at what the data tell us actually happened to international debt flows to developing countries before and after the recent financial crisis.

The Fallout of Financial Crises on Labor Markets

Claudia Sepúlveda's picture

Pablo Ottonello, 2012

Nearly two years after the "Great Recession" officially ended in the United States according to the NBER, the labor markets in many countries remain stagnant. At the recent Latin American Economic Association Meetings (LACEA) in Peru (Nov. 1-3), several presentations attempted to shed light on the impact of shocks originating in credit markets on the labor market. Today’s blog highlights three working papers – all still works in progress – that suggest that all recessions are not created equal and that much more research is needed to understand better how labor markets function.

Informal = Illegal? Think Again

Truman Packard's picture

Cover Photo: © Getty Images, Inc.
Book Title: In From the Shadow : Integrating Europe’s Informal Labor
by Truman Packard, Johannes Koettl, Claudio Montenegro

Few phenomena that occupy the time of governments and economists are as ambiguously defined and difficult to measure as the “shadow" or "informal" economy. Those terms immediately make some people think of the guys who built an extension for their house and insisted on being paid in cash. Others remember the taxi driver who took them home after a late night out, and either didn’t have a meter or didn’t turn it on. Those who have been in very poor countries might recall bustling markets where you can haggle for anything from a handful of fresh chilies to a pair of sandals or even livestock. All of these are likely to be part of the unregulated and untaxed transactions that make up a country's informal economy.
 

Quote of the Week: James Surowiecki

Sina Odugbemi's picture

“But, if recent history has taught us anything, it’s that self-regulation doesn’t work in finance, and that worries about reputation are a weak deterrent to corporate malfeasance.”

-James Surowiecki, Staff Writer, The New Yorker

-As quoted in The New Yorker, July 30, 2012. Bankers Gone Wild

 

 

Video of launch event of the book Migration and Remittances during the Global Financial Crisis and Beyond

Dilip Ratha's picture

We had an interesting launch event for this volume on July 10th at the World Bank's Infoshop in Washington DC. There have been a number of media reports (see for example the story on Wall Street Journal by Eric Bellman, a Q&A in Mint by Malia Politzer, and another Q&A by Donna Barne). See also related posts on this blog from my co-editors Ibrahim and Jeff on their interventions during the book launch. 

AIDS Debate Poses Tough Funding Questions to Top Thinkers

Donna Barne's picture

AIDS Debate

The question was on the pros and cons of HIV/AIDS funding and the tools were sharp insights and passionate views as some of the most influential figures in the fight against AIDS and poverty participated in a lively debate before a packed World Bank auditorium July 23.

The webcast event, co-hosted by the Bank, U.S. Agency for International Development/ U.S. President's Emergency Plan for AIDS Relief, and the medical journal The Lancet, asked a panel of experts to weigh global funding for HIV/AIDS in a fiscally strained, post financial crisis environment. The debate was part of the first International AIDS Conference to be held in Washington in 22 years.

The Euro crisis – What role did the common currency play?

Volker Treichel's picture

As emergency meetings of Heads of State to address the Euro zone crisis have seemingly become recurrent events, the crisis in the Euro zone lingers on stubbornly and might possibly become more serious with borrowing costs for Italy and Spain, reaching unsustainably high levels. As ever bolder proposals proliferate to put an end to the crisis, it is important to look back at the history of the crisis and try to identify its root causes.  A working paper by Justin Lin and myself addresses this question and, in particular, the extent to which it was driven by the global financial crisis and by factors internal to Europe, notably the adoption of the common currency. 


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