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The Global Economic Recovery 10 Years After the 2008 Financial Crisis
Ms.Wenjie Chen
Mr.Mico Mrkaic
Mr.Malhar S Nabar
出版
International Monetary Fund
, 2019-04-26
主題
Business & Economics / Banks & Banking
Business & Economics / Finance / Financial Risk Management
Business & Economics / Production & Operations Management
ISBN
1498311687
9781498311687
URL
http://books.google.com.hk/books?id=uuKYDwAAQBAJ&hl=&source=gbs_api
EBook
SAMPLE
註釋
This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007–08. Sluggish investment was a key channel through which these losses registered, accompanied by long-lasting capital and total factor productivity shortfalls relative to precrisis trends. Policy choices preceding the crisis and in its immediate aftermath influenced postcrisis variation in output. Underscoring the importance of macroprudential policies and effective supervision, countries with greater financial vulnerabilities in the precrisis years suffered larger output losses after the crisis. Countries with stronger precrisis fiscal positions and those with more flexible exchange rate regimes experienced smaller losses. Unprecedented and exceptional policy actions taken after the crisis helped mitigate countries’ postcrisis output losses.