Lessons from World Bank research on financial crises
By: .
Contributors: World Bank.
Series: Policy research working paper -- 4779; Policy research working papers (Online) -- 4779.
Publisher: World Bank
Published: 2008
Place of publication: [Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Financial crises
Description: "The benefits of financial development and globalization have come with continuing fragility in financial sectors.  Periodic crises have had real but heterogeneous welfare impacts and not just for poor people; indeed, some of the conditions that foster deep and persistent poverty, such as lack of connectivity to markets, have provided a degree of protection for the poor.  Past crises have also had longer-term impacts for some of those affected, most notably through the nutrition and schooling of children in poor families.  As in other areas of policy, effective responses to a crisis require sound data and must take account of incentives and behavior.  An important lesson from past experience is that the short-term responses to a crisis-macroeconomic stabilization, trade policies, financial sector policies and social protection-cannot ignore longer-term implications for both economic development and vulnerability to future crises. "--World Bank web site.
Notes: Title from PDF file as viewed on 3/17/2009.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.