Notice: Undefined index: language in C:\WEB\www.acp-eu-trade.org\html\library\library_detail.php on line 7

Notice: Undefined index: language in C:\WEB\www.acp-eu-trade.org\html\library\library_detail.php on line 9
ACP-EU-TRADE - The global financial and economic crisis and its impact on Sub-Saharan economies Close this window and return to your Library search
Send this library item to a friend Print the main page


The global financial and economic crisis and its impact on Sub-Saharan economies

Book Chapter 2, Tralac, April 2010

The current global economic crisis was ignited in the financial markets of the major developed economies but soon the real economy was affected. The developing world, Africa in particular, has not been isolated from its impact. International trade and capital flows serve as a transmission mechanism that illustrated that the hypothesis of a decoupling between the developed and developing world does not hold. African economies’ exposure is amplified by their need to access foreign saving. African economies did not contribute to the cause of the economic decline but, as casualties of the crisis, African countries can do very little in a direct sense to solve the problem. The latter will depend on efforts in the major industrialised countries to restore the financial system and increase aggregate demand. Should this fail, the economic regression will deepen and be prolonged.

Document (EN): McCarthy_EN_180510_Tralac_Global Economic and Financial Crise.pdf
External link (EN): http://www.givengain.com/cause_data/images/1694/RI_Review_Issues_Book_Ch2_McCarthy_20100429.pdf

Author(s): Colin McCarthy