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World Economy Under Stress

F&D on Financial Crisis Origins

The June 2008 issue of F&D examined the origins of the crisis and how it spread. See particularly A Crisis of Confidence ... and a Lot More and Outbreak: U.S. Subprime Contagion. Banking on More Capital looks at the capital adequacy rules for the banking system.

Also in This Issue


Letter from the Editor

Letters to the Editor

Weder di Mauro on governance; Who's to blame for the free market crisis?

IMF News

IMF's new liquidity facility; Exogenous Shocks Facility revamped; IMF surveillance priorities; Loans to Ukraine and Hungary; Tanzania conference

People in Economics

From Visionary to Innovator

Paolo Mauro
In some of his best-selling books, economist Robert Shiller—known for identifying speculative bubbles at an early stage—has made the case for creating new financial markets in which individuals would be able to diversify away the most important risks affecting them.

Picture This

The Ingredients of Sustained High Growth

Natalie Ramirez-Djumena and Jair Rodriguez
Sustained fast growth is not a miracle—it is possible for developing countries, as long as their leaders are committed to it and take advantage of the opportunities provided by the global economy.

Back to Basics

What Is Gross Domestic Product?

Tim Callen
One thing people want to know about an economy is whether its total output of goods and services is growing or shrinking. When an economy's gross domestic product is growing, workers and businesses are generally better off than when it is not.

Book Reviews

The Arab Economies in a Changing World, Marcus Noland and Howard Pack

Rivals: How the Power Struggle Between China, India and Japan Will Shape Our Next Decade, Bill Emmott

The Great Inflation and Its Aftermath: The Past and Present of American Affluence, Vito Tanzi

Termites in the Trading System: How Preferential Trade Agreements
Undermine Free Trade,
Jagdish Bhagwati

Straight Talk

Shifting Perceptions of Poverty

Justin Yifu Lin
Although new data show the level of poverty across all developing countries is higher than previously estimated, the revised statistics reveal big successes in poverty reduction and may improve understanding of the development process.

Country Focus

Saudi Arabia

Since the start of the oil boom in 2003, Saudi Arabia has achieved strong growth, aided by high oil revenues and a rapid expansion of the non-oil private sector. While inflationary pressures are easing, the global financial crisis poses new risks.

Index of Articles in 2008

Index of Articles

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F&D Online Exclusive!

Commodity Price Boom Is Over
After a broad-based 2001–07 boom, commodity prices have collapsed. In an article written for the online edition of F&D, the IMF’s Thomas Helbling says downward reassessment of emerging economies’ growth prospects has fundamentally changed the outlook for commodities. Helbling's commodities snapshot updates his commodity price boom analysis in the March 2008 edition of F&D.

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