A Decade after the 2009 Global Recession
Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequently slowed to a sluggish pace by pre-recession standards, and many emerging market and developing economies (EMDEs) have been struggling to unwind their fiscal stimulus and contain a buildup of debt. The experience of the global recession in 2009 highlights the need for well-timed, appropriately calibrated domestic stabilization policies, but also the benefits of international cooperation and coordination in support of strong and sustained global growth and financial system stability. Sound policy frameworks can help create room for stabilization policies, such as fiscal rules to safeguard fiscal sustainability or macroprudential policies and capital flow management measures to better manage systemic risks.
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Format: | Working Paper biblioteca |
Language: | English |
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World Bank, Washington, DC
2020-06
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Subjects: | GLOBAL RECESSION, MACROECONOMIC POLICY, FINANCIAL SECTOR REFORM, CAPITAL FLOWS, EMERGING MARKET ECONOMIES, MONETARY POLICY, FISCAL STIMULUS, DEBT, STABILIZATION POLICY, MACROPRUDENTIAL POLICY, CAPITAL FLOW MANAGEMENT, |
Online Access: | http://documents.worldbank.org/curated/en/446541592856902883/A-Decade-after-the-2009-Global-Recession-Macroeconomic-and-Financial-Sector-Policies https://hdl.handle.net/10986/33984 |
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dig-okr-10986339842024-08-09T06:20:27Z A Decade after the 2009 Global Recession Macroeconomic and Financial Sector Policies Koh, Wee Chian Yu, Shu GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequently slowed to a sluggish pace by pre-recession standards, and many emerging market and developing economies (EMDEs) have been struggling to unwind their fiscal stimulus and contain a buildup of debt. The experience of the global recession in 2009 highlights the need for well-timed, appropriately calibrated domestic stabilization policies, but also the benefits of international cooperation and coordination in support of strong and sustained global growth and financial system stability. Sound policy frameworks can help create room for stabilization policies, such as fiscal rules to safeguard fiscal sustainability or macroprudential policies and capital flow management measures to better manage systemic risks. 2020-06-25T14:46:32Z 2020-06-25T14:46:32Z 2020-06 Working Paper Document de travail Documento de trabajo http://documents.worldbank.org/curated/en/446541592856902883/A-Decade-after-the-2009-Global-Recession-Macroeconomic-and-Financial-Sector-Policies https://hdl.handle.net/10986/33984 English Policy Research Working Paper;No. 9289 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf text/plain World Bank, Washington, DC |
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Biblioteca del Banco Mundial |
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English |
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GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT |
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GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT Koh, Wee Chian Yu, Shu A Decade after the 2009 Global Recession |
description |
Unprecedented monetary policy
accommodation in advanced economies and a large, coordinated
fiscal stimulus by G20 countries helped to support a solid
rebound in global output right after the 2009 Global
Recession. However, global growth subsequently slowed to a
sluggish pace by pre-recession standards, and many emerging
market and developing economies (EMDEs) have been struggling
to unwind their fiscal stimulus and contain a buildup of
debt. The experience of the global recession in 2009
highlights the need for well-timed, appropriately calibrated
domestic stabilization policies, but also the benefits of
international cooperation and coordination in support of
strong and sustained global growth and financial system
stability. Sound policy frameworks can help create room for
stabilization policies, such as fiscal rules to safeguard
fiscal sustainability or macroprudential policies and
capital flow management measures to better manage systemic risks. |
format |
Working Paper |
topic_facet |
GLOBAL RECESSION MACROECONOMIC POLICY FINANCIAL SECTOR REFORM CAPITAL FLOWS EMERGING MARKET ECONOMIES MONETARY POLICY FISCAL STIMULUS DEBT STABILIZATION POLICY MACROPRUDENTIAL POLICY CAPITAL FLOW MANAGEMENT |
author |
Koh, Wee Chian Yu, Shu |
author_facet |
Koh, Wee Chian Yu, Shu |
author_sort |
Koh, Wee Chian |
title |
A Decade after the 2009 Global Recession |
title_short |
A Decade after the 2009 Global Recession |
title_full |
A Decade after the 2009 Global Recession |
title_fullStr |
A Decade after the 2009 Global Recession |
title_full_unstemmed |
A Decade after the 2009 Global Recession |
title_sort |
decade after the 2009 global recession |
publisher |
World Bank, Washington, DC |
publishDate |
2020-06 |
url |
http://documents.worldbank.org/curated/en/446541592856902883/A-Decade-after-the-2009-Global-Recession-Macroeconomic-and-Financial-Sector-Policies https://hdl.handle.net/10986/33984 |
work_keys_str_mv |
AT kohweechian adecadeafterthe2009globalrecession AT yushu adecadeafterthe2009globalrecession AT kohweechian macroeconomicandfinancialsectorpolicies AT yushu macroeconomicandfinancialsectorpolicies AT kohweechian decadeafterthe2009globalrecession AT yushu decadeafterthe2009globalrecession |
_version_ |
1807158958289321984 |