The Global South after the Crisis

'This book highlights the complexities of how developing countries have responded to the global crisis and points to the strongly adverse effects of trade shocks for some. Fiscal and monetary policies were important in mitigating adverse negative effects, but these are being undermined by reliance on cross-border financial flows. These are important results for policy makers and citizens to understand.' - Jayati Ghosh, Jawaharlal Nehru University, India The Global South After the Crisis is an appraisal and analysis of how the Great Recession of 2008 to 2009 unfolded in the developing world and an exploration of its effects on those countries, particularly on each one's economic management. Essays identify the ways in which the crisis was transmitted to these countries and the associated policy responses of the governments concerned. This volume is split into two accessible sections. The first part concentrates on the impact of the crisis on growth, development, policy responses and policy shifts in key areas such as central banking. The second part comprises individual country case studies and includes an exploration of the vulnerabilities related to the integration of developing economies into the world economy. The effect of the crisis on trade, and the ways in which some developing countries have entered into a prolonged period of stagnant growth following the global crisis are all considered. This well-integrated compilation of both original case studies and thematic essays will be of interest to scholars and professionals working in the development field and other readers wishing to obtain an understanding of socio-economic developments in the wider world. Aid workers, policy makers, and social science researchers will also find value in this book. Contributors include: S. Bahce, A. Benlialper, H. Cmert, M.S. Colak, A. de Melo Modenesi, O. Justo, A.H. Ks, R.A. McKenzie, R.L. Modenesi, S. Nambiar, M. Reis, J.E. Santarcangelo, E.N. Ugurlu