IDEAS home Printed from https://ideas.repec.org/p/cbr/cbrwps/wp415.html
   My bibliography  Save this paper

The Global Economic and Financial Crisis: A Review and Commentary

Author

Listed:
  • Singh, A.
  • Zammit, A.

Abstract

This paper provides a review and commentary on the current financial and economic crisis. It considers important analytical and policy issues from a global and North-South perspective. The analytical questions cover issues such as the better than expected performance of the world economy, the role of global financial imbalances, and whether or not economic theory has been helpful. It is argued that close international cooperation and policy coordination are essential to recovery and an improved distribution of the fruits of growth. Cooperation and financial regulation are particularly necessary in order to prevent international contagion and cascading sovereign debt defaults.

Suggested Citation

  • Singh, A. & Zammit, A., 2010. "The Global Economic and Financial Crisis: A Review and Commentary," Working Papers wp415, Centre for Business Research, University of Cambridge.
    • Handle: RePEc:cbr:cbrwps:wp415
    Note: PRO-2
    as

    Download full text from publisher

    File URL: https://www.jbs.cam.ac.uk/wp-content/uploads/2023/05/cbrwp415.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Glyn, Andrew & Hughes, Alan & Lipietz, Alan & Sigh, Ajit, "undated". "The Rise and Fall of the Golden Age," WIDER Working Papers 295573, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    2. Albert Fishlow., 1987. "Some Reflections on Comparative Latin American Economic Performance and Policy," Economics Working Papers 8754, University of California at Berkeley.
    3. Richard N. Cooper, 2005. "Living with Global Imbalances: A Contrarian View," Policy Briefs PB05-03, Peterson Institute for International Economics.
    4. Singh, Ajit., 2007. "Globalisation, industrial revolutions in India and China and labour markets in advanced countries : implications for national and international economic policy," ILO Working Papers 993979343402676, International Labour Organization.
    5. repec:ilo:ilowps:397934 is not listed on IDEAS
    6. Karl Aiginger, 2009. "The Current Economic Crisis: Causes, Cures and Consequences," WIFO Working Papers 341, WIFO.
    7. S. Narayan, 2009. "India," Chapters, in: Peter Draper & Philip Alves & Razeen Sally (ed.), The Political Economy of Trade Reform in Emerging Markets, chapter 7, Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ajit Singh & Ann Zammit, 2011. "The Global Economic and Financial Crisis: Which Way Forward?," Palgrave Macmillan Books, in: Philip Arestis & Rogério Sobreira & José Luis Oreiro (ed.), An Assessment of the Global Impact of the Financial Crisis, chapter 3, pages 36-59, Palgrave Macmillan.
    2. Singh, Ajit, 1995. "Close" vs. "Strategic" integration with the world economy and the "market friendly approach to development" vs. an "industrial policy," MPRA Paper 53562, University Library of Munich, Germany.
    3. Singh, Ajit, 2005. "The Doha development agenda: what special and differential treatment?," MPRA Paper 53438, University Library of Munich, Germany.
    4. Singh, Ajt, 2008. "Historical Examination of the Golden Age of Full Employment in Western Europe," MPRA Paper 24304, University Library of Munich, Germany.
    5. Howes, Candace & Singh, Ajit, 1995. "Long-term trends in the World economy: The gender dimension," World Development, Elsevier, vol. 23(11), pages 1895-1911, November.
    6. J. Bradford De Long & Barry Eichengreen, 1991. "The Marshall Plan: History's Most Successful Structural Adjustment Program," NBER Working Papers 3899, National Bureau of Economic Research, Inc.
    7. Ajit Singh, 2003. "Capital account liberalisation, free long-term capital flows, financial crises and economic development," Chapters, in: Philip Arestis & Michelle Baddeley & John S.L. McCombie (ed.), Globalisation, Regionalism and Economic Activity, chapter 1, pages 15-46, Edward Elgar Publishing.
    8. Azoumah, Y. & Yamegueu, D. & Ginies, P. & Coulibaly, Y. & Girard, P., 2011. "Sustainable electricity generation for rural and peri-urban populations of sub-Saharan Africa: The "flexy-energy" concept," Energy Policy, Elsevier, vol. 39(1), pages 131-141, January.
    9. Findlater, K.M. & Kandlikar, M., 2011. "Land use and second-generation biofuel feedstocks: The unconsidered impacts of Jatropha biodiesel in Rajasthan, India," Energy Policy, Elsevier, vol. 39(6), pages 3404-3413, June.
    10. Ajit Singh, 2012. "Financial Globalization and Human Development," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 13(1), pages 135-151, February.
    11. Elizabeth Kaletski & Nishith Prakash, 2017. "Can Elected Minority Representatives Affect Health Worker Visits? Evidence from India," Review of Development Economics, Wiley Blackwell, vol. 21(1), pages 67-102, February.
    12. Munawar-Shah, Syed & Abdul-Majid, Mariani & Hussain-Shah, Syed, 2014. "Assessing Fiscal Sustainability for SAARC and IMT-GT Countries," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 5(2), pages 26-40.
    13. Bernanke, B.S., 2011. "International capital flows and the returns to safe assets in the United States 2003-2007," Financial Stability Review, Banque de France, issue 15, pages 13-26, February.
    14. Mitrut, Andreea & Wolff, François-Charles, 2011. "The impact of legalized abortion on child health outcomes and abandonment. Evidence from Romania," Journal of Health Economics, Elsevier, vol. 30(6), pages 1219-1231.
    15. Philipp Engler & Michael Fidora & Christian Thimann, 2009. "External Imbalances and the US Current Account: How Supply‐Side Changes Affect an Exchange Rate Adjustment," Review of International Economics, Wiley Blackwell, vol. 17(5), pages 927-941, November.
    16. Singh, Ajit, 2013. "Full Employment in Western Europe and the Regulatory Regime: An Institutional and Historical Analysis Together with a Commentary on Government as an Entrepreneur," MPRA Paper 53038, University Library of Munich, Germany.
    17. Mattoo, Aaditya & Subramanian, Arvind, 2012. "Equity in Climate Change: An Analytical Review," World Development, Elsevier, vol. 40(6), pages 1083-1097.
    18. Varun & Prakash, Ravi & Bhat, I.K., 2010. "A figure of merit for evaluating sustainability of renewable energy systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(6), pages 1640-1643, August.
    19. Jeffrey A. Frankel & Shang-Jin Wei, 2007. "Assessing China's exchange rate regime [‘Working with the IMF to strengthen exchange rate surveillance’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 22(51), pages 576-627.
    20. Eiji Yamamura, 2012. "Groups and information disclosure: evidence on the Olson and Putnam hypotheses in Japan," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 39(6), pages 423-439, May.

    More about this item

    Keywords

    Financial and economic crisis; global financial imbalances; global economic cooperation;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • G1 - Financial Economics - - General Financial Markets
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • N2 - Economic History - - Financial Markets and Institutions
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

    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:cbr:cbrwps:wp415. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Ruth Newman (email available below). General contact details of provider: http://www.jbs.cam.ac.uk .

    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.