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April 2009

The Financial Crisis and its Impact on Developing Countries

Ignacio Hernandez's picture

A new working paper by Stephany Griffith-Jones and José Antonio Ocampo, published by UNDP's International Poverty Centre, looks at the impact that the financial crisis is having on developing countries. The paper identifies three mechanisms that play a key role in spreading the consequences of the financial crisis to the developing world: remittances, capital flows and trade.