The Cross-Country Incidence of the Global Crisis
Philip Lane and
Gian Maria Milesi-Ferretti ()
IMF Economic Review, 2011, vol. 59, issue 1, 77-110
Abstract:
We examine whether the cross-country incidence and severity of the 2008–09 global recession is systematically related to precrisis macroeconomic and financial factors. We find that the precrisis level of development, increases in the ratio of private credit to GDP, current account deficits, and openness to trade are helpful in understanding the intensity of the crisis. International risk sharing did little to shield domestic demand from the country-specific component of output declines, while those countries with large pre-crisis current account deficits saw domestic demand fall by much more than domestic output during the crisis.
Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (143)
Downloads: (external link)
http://www.palgrave-journals.com/imfer/journal/v59/n1/pdf/imfer201012a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/imfer/journal/v59/n1/full/imfer201012a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.
Related works:
Working Paper: The Cross-Country Incidence of the Global Crisis (2010) 
Working Paper: The Cross-Country Incidence of the Global Crisis (2010) 
Working Paper: The Cross-Country Incidence of the Global Crisis (2010) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pal:imfecr:v:59:y:2011:i:1:p:77-110
Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/41308/PS2
Access Statistics for this article
More articles in IMF Economic Review from Palgrave Macmillan, International Monetary Fund
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().