Typical street scene in Santa Ana, El Salvador. (Photo: iStock)
September 11, 2009
The September issue of the IMF’s Finance & Development magazine looks at how to sustain recovery from the global economic crisis, maintaining supportive policies while planning for their well-timed reversal, and what’s in and out in global money.
F&D asks “where do we go from here? As recovery begins” (IMF image)
Global economic crisis
The issue looks at what’s next in the global crisis and beyond. F&D discusses how to sustain the recovery, what’s in and out in global money, ways of unwinding crisis support, ways of rebuilding the financial architecture, how the crisis has affected individuals around the world. The magazine also runs a profile of Daniel Kahneman, whose work led to the creation of behavioral economics.
Key articles include:
Sustaining a Global Recovery
Olivier Blanchard In normal recessions, things turn around predictably. But the current recession has been far from normal and the recovery that is starting will require delicate rebalancing acts, both within and across countries, if it is to be sustained. What’s In and Out in Global Money
Jeffrey A. Frankel In the sometimes faddish world of international monetary economics, concepts are hot, then they are not. A leading international economist nominates five concepts that recently were virtually conventional wisdom but now are “out,” and five that have gained new stature. Looking Ahead
Carlo Cottarelli and José Viñals Although it is still too early for governments to retreat from policies that fight the biggest financial crisis since the 1930s, countries must begin now to devise economic strategies to accompany recovery when that takes hold. Rebuilding the Financial Architecture
Andrew Crockett The most dangerous phase of the financial crisis that began in 2007 seems to be past. Now attention is turning to the shortcomings in the financial architecture that contributed to the outbreak of the crisis, and what needs to be done to correct them. Faces of the Crisis
They are from six countries and lived very different lives—an auto worker in Japan; a dock worker in Argentina; a real estate agent in Spain; an investment banker in the United States; a farmer in Côte d’Ivoire; and a single parent in Haiti. But all suffered ill effects from the global economic crisis. People in Economics: Questioning a Chastened Priesthood
Jeremy Clift Daniel Kahneman may be a psychologist, but he won a Nobel Prize in economics for his insights into how individuals and firms make economic choices. Finance & Development is published four times a year in English, French, Spanish, Arabic, and Chinese, plus a web version in Russian. An archive of the magazine is available at http://www.imf.org/external/pubs/ft/fandd/fda.htm Comments on this article should be sent to imfsurvey@imf.org
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