IDEAS home Printed from https://ideas.repec.org/a/sae/niesru/v207y2009i1p10-17.html
   My bibliography  Save this article

THE WORLD ECONOMY: The global cost of delaying bank stability

Author

Listed:
  • Dawn Holland
  • Ray Barrell
  • Tatiana Fic
  • Ian Hurst
  • Iana Liadze
  • Ali Orazgani
  • Vladimir Pillonca

Abstract

In October 2008, we were already projecting that 2009 would see the worst recession in the OECD economies since 1982, and if the resolution of problems in the banking sector were to be delayed then the outcome would be much worse. We are now facing the deepest global recession in post-war history, with global growth of just ½ per cent expected this year. Output in the OECD group of economies is projected to decline by 1.8 per cent this year, with annual declines in output anticipated in all the G7 economies, even after all fiscal stimulus packages are taken into account. We estimate that about 0.8 per cent of global GDP, or roughly $550 billion, will be lost this year due to the delay in restoring capital adequacy in the banking sector in the major economies over the past three months.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Dawn Holland & Ray Barrell & Tatiana Fic & Ian Hurst & Iana Liadze & Ali Orazgani & Vladimir Pillonca, 2009. "THE WORLD ECONOMY: The global cost of delaying bank stability," National Institute Economic Review, National Institute of Economic and Social Research, vol. 207(1), pages 10-17, January.
    • Handle: RePEc:sae:niesru:v:207:y:2009:i:1:p:10-17
    as

    Download full text from publisher

    File URL: http://ner.sagepub.com/content/207/1/10.abstract
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:niesru:v:207:y:2009:i:1:p:10-17. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: https://edirc.repec.org/data/niesruk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.