IGS 10a Chapter Notes - Chapter 8: Structural Adjustment, Financial Stability Board, Dispute Settlement In The World Trade Organization
19 Sep 2016
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Document Summary
Case study: the global financial crisis of 2008. Stocks plummeted, one of world"s largest banks collapsed, industrial and trade output dropped below great depression, investment fell, unemployment increased (us over doubled), consumer demand fell, and credit almost impossible to obtains. General agreement that (open) global economy rebounded relatively well. Unequally - developed more affected than developing. Central bankers and other regulators tolerating risky practices. Savings in asia reduced global interest rates. Years of low inflation and stable growth overconfidence. All major economies implemented major stimulus packages to address unemployment, drop in investment, and tight credit. Imf and world bank lent loans and created policy in response. Yet existing institutions not enough g-20 convene at summit on financial stability and the. Recognition of need for short-term emergency response as well as better long- term cross-border supervision of institutions, global standards for banking and accounting regulation, and early warning system for global economy and need to include developing (growing) countries.
