The Global Economic Crisis and the Developing World
Implications and Prospects for Recovery and Growth
The world economy is currently in the throes of a global economic crisis reminiscent of the great depressions of the 1930s and the 1870s. As back then, the crisis has exposed the major structural imbalances in financial and credit markets in addition to global trade forcing many governments, developed and developing, to impose debilitating austerity measures that are exacerbating the structural weaknesses that caused the crisis in the first place.
This volume offers historical insights into the origins of the contemporary crisis as well as detailed analyses of the financial and trade dimensions, an assessment of the technological and innovation context along with perspectives on the implications for unemployment and gender imbalances.
Table of Contents
1. Global Economic Crisis and the Developing World: An Introduction Ashwini Deshpande and Keith Nurse Section 1: Insights from History 2. Trade Liberalisation, Industrialisation and Development: The experience of Recent Decades Mehdi Shafaeddin 3. The Slowing Down of the Engine of Growth: Was W.A. Lewis Right about Global Economic Crises and the Impact on the Periphery? Keith Nurse 4. Africa: Dependency and Crisis; The Great Depression and the 2008 Recession Bill Freund Section 2: The Finance and Trade Dimension 5. Reassessing Capital Controls: Theoretical Perspectives and Empirical Evidence Vanessa da Costa Val Munhoz and Gilberto Libanio 6. Trade Dimensions in the Impact of the Global Financial Crisis in Developing Countries: Are the Policy Responses Overlooking Them? Aldo Caliari 7. Trade Integration After the Great Recession: The Case of Argentina Leandro Serino Section 3: The Technology and Innovation Dimension 8. Are Renewables a Solution? Ethanol and the Environment: The Missing Point Luiz Niemeyer 9. Creative Destruction and Recovery in Latin America: An Out-of-Crisis Roadmap Centred on Technology and Industrial Policies Mario Cimoli, Elisa Calza, Annalisa Primi and Sebastián Rovira Section 4: The Gender and Employment Dimension 10. Financial Crises of Turkey and Gendered Employment Outcomes Ozge Izdes 11. Comparative Regional Gendered Impact of the Global Economic Crisis on International Trade and Production in the Developing World Jason Jackson Section 5: The Scenario for Big Developing States: The Case of South Africa 12. The Impact of the Global Financial Crisis on the South African Economy Seeraj Mohamed 13. Inequality and Unemployment in the Growth and Recovery Process: A Case Study of South Africa Fiona Tregenna Section 6: The Scenario for Small Developing States: The Caribbean 14. Factors Impacting on Whether and How Business Responds to Early Warning Signs of Financial and Economic Turmoil: Jamaican firms in the Global Crisis David Tennant 15. The Impact of the Global Economic Crisis on Remittances to the Caribbean Jessica Jones
Ashwini Deshpande is Professor of Economics at the Delhi School of Economics, University of Delhi, India.
Keith Nurse is Director of the Shridath Ramphal Centre for International Trade Law, Policy and Services at the Cave Hill Campus (Barbados) of the University of the West Indies.