The Global Economic Recovery 10 Years After the 2008 Financial Crisis / Chen, Wenjie.
- Washington, D.C. : International Monetary Fund, 2019.
- IMF eLibrary
IMF Working Papers; Working Paper ; No. 19/83
IMF Working Papers.
- Government document
1 online resource (32 pages)
- 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.
- Part of the IMF eLibrary collection.
Description based on print version record.
- Mrkaić, Mićo.
Nabar, Malhar S.
- Other format:
- Print Version: Chen, Wenjie. The Global Economic Recovery 10 Years After the 2008 Financial Crisis.
- 1498305423 :
- Publisher Number:
- 10.5089/9781498305426.001 doi
- Access Restriction:
- Restricted for use by site license.
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