The Global Economic Recovery 10 Years after the 2008 Financial Meltdown

Delivering sustainable economic growth
Posted Oct 11, 2018 | IMF, Wenjie Chen, Mico Mrkaic, Malhar Nabar

The 2008 financial crisis led to declines in economic activity in half of all countries. In many, output is still well below levels that would have prevailed had it followed its pre-crisis trend. In this report for the IMF, Wenjie Chen, Mico Mrkaic, and Malhar Nabar suggest that the crisis had lasting effects on potential growth through its impact on fertility rates and migration, as well as income inequality. Policy choices preceding the crisis and in its immediate aftermath influenced variations in output after the crisis .Those countries in better fiscal shape, with better regulated and supervised banks, and flexible exchange rates, generally suffered less damage.


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