UNU-WIDER Seminar: Global Crisis and the Impact on Emerging Economies by Kaushik Basu, Chief Economist and Senior Vice President for Development Economics of the World Bank. Helsinki, Finland
Scandic Marina Congress Center, Nautica Room (ground floor), Katajanokanlaituri 6, 00160 Helsinki, Finland
26 November 2012 13:30 - 26 November 2012 16:00
Carl-Gustav Linden, UNU-WIDER Senior Communications Specialist
Phone: +358 (09) 6159 9221
United Nations University World Institute for Development Economics Research (UNU-WIDER) is pleased to announce the following seminar by Kaushik Basu, Chief Economist and Senior Vice President for Development Economics of the World Bank
Global Crisis and the Impact on Emerging Economies
After seeming to weather the initial shock from the Great Recession well, emerging economies faced a sharp slowdown from 2011, raising interesting questions about the nature of coupling and decoupling of economies. Economic growth in the developing world is expected to be in the 5 to 6 per cent range this year and next. But a lot will depend on what happens in the eurozone and EU countries. The on-going fiscal consolidation, high unemployment and very weak consumer and business confidence in the euroarea, as well as the weakness in Japan's export-dependent industrial sector, continue to weigh on global economic activity. In addition, Kaushik Basu will argue that there are various debt cliffs looming on the eurozone horizon that we ought to take early note of. There is a natural propensity on our part to look away from unpleasant problems till they are too close, as happened in the case of the USA 'fiscal cliff'. But it is imperative...