An Assessment of the Global Impact of the Financial Crisis

This topical volume analyzes the impact of the 2008 financial crisis. It considers the origins and explanations of the current crisis, examines the regulatory implications and, with specific focus on developing countries, it provides a strategy for economic growth that can guarantee financial stability in the future.

Introduction Current Crisis in the US and Economic Policy Implications The Global Economic and Financial Crisis: Which way Forward? Crises and the Bretton Woods Institutions and the Crises of the Bretton Woods Institutions Crisis in the Euro-Zone The Impact of the Current Crisis on Emerging Market and Developing Countries Crisis in Western and Eastern EU: Does Policy Reaction Address its Origins? The Impact of the Sub-Prime Financial Crisis on the Transition and Central Asian Economies: Causes and Consequences World Financial Crisis and Implications on China The 2008 Financial Crisis and Banking Regulation in Brazil Exchange-Rate Derivatives, Financial Fragility and Monetary Policy in Brazil during the World Financial Crisis

FLAVIO BASILIO Universidade de Brasilia, Brazil LUIZ FERNANDO DE PAULA University of the State of Rio de Janeiro, Brazil JESUS FERREIRO University of the Basque Country, Spain ELIAS KARAKITSOS Guildhall Asset Management, UK JOHN MCCOMBIE Cambridge University, UK RAMONA MEYRICKE University of Cambridge, UK ÖZLEM ONARAN Middlesex University, UK JONATHAN PERRATON University of Sheffield, UK FELIPE SERRANO University of the Basque Country, Spain AJIT SINGH Cambridge University, UK SHUJIE YAO University of Nottingham, UK HOWARD STEIN University of Michigan, US ANN ZAMMIT UNRISD, Geneva JING ZHANG University of Nottingham, UK