The Spillover Effects of the Global Crisison Economic Activity in Mena Emerging Market Countries : An Analysis Using the Financial Stress Index
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
The estimated spillover of the global crisis to emerging market (EM) economies in the Middle East and North Africa (MENA) indicates that nearly two-thirds of the increased financial stress in MENA EM countries after the Lehman shock is attributable to direct or indirect spillovers of financial stress in advanced economies. Moreover, the estimated models suggest that the increased financial stress and slowdown in economic activity in advanced economies can explain about half of the drop in real GDP growth in MENA EM countries after the Lehman shock.
Series:
Working Paper No. 10/8
Subject:
Cross country analysis Economic growth Economic models Financial crisis Fiscal policy Global Financial Crisis 2008-2009 Middle East Monetary policy North Africa Regional shocks Spillovers
English
Publication Date:
January 1, 2010
ISBN/ISSN:
9781451961867/1018-5941
Stock No:
WPIEA2010008
Format:
Paper
Pages:
21
Please address any questions about this title to publications@imf.org