Summary |
Most of the crises over the past few decades have had their roots in developing and emerging countries, often resulting from abrupt reversals in capital flows, and from loose domestic monetary and fiscal policies. In contrast, the current ongoing global financial crisis has had its roots in the US.
Given the experience of the post-crisis period, the decoupling hypotheses stands invalidated. Reinforcing the nation that in a globalised world no country can be an island, growth prospects of emerging economies have been undermined by the cascading financial crisis with, of course, considerable variation across countries.
This book contains 16 analytical contributions gathered from various sources which give-with regional dimensions-deep insights into the origin, causes, consequences and remedial measures related to the crisis.
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