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The Multilateral Response to the Global Crisis: Rationale, Modalities, and Feasibility

Eduardo Fernandez-Arias, Andrew Powell and Alessandro Rebucci ()

No 1653, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: The paper reviews the case for a strong multilateral response to the global crisis in emerging markets (EMs). It discusses modalities and feasibility of intervention and its associated risks, depending on country circumstances of fiscal space and liquidity needs. The specific role of Multilateral Development Banks (MDBs) in ensuring the development effectiveness of the fiscal response is also discussed. The paper concludes by highlighting the international financial architecture issues raised by the global crisis that cannot be addressed immediately but will need to be dealt with once the current crisis has been tamed.

Keywords: WP-683 (search for similar items in EconPapers)
JEL-codes: F3 F30 F31 F32 F33 F34 (search for similar items in EconPapers)
Date: 2011-02
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Working Paper: The Multilateral Response to the Global Crisis: Rationale, Modalities, and Feasibility (2009) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:idb:brikps:1653

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