exchange rates

The Impact of the Crisis on Semi-Industrialised Countries

Williamson considers the channels through which the global financial crisis affects the real economy. There are two basic mechanisms through which a recession can be transmitted to a country from abroad. One is through trade or some other form of current account receipts. The second is through the financial markets. Other forms of transmission are…


International Policy Response of Developing Countries to the Global Economic Crisis

“The impact of the 2008 financial crisis on emerging markets like South Africa has been quite different from its impact on developed economies, and so too have been the responses to the crisis. This paper presents an overview of the policy responses employed to counter the effects of the crisis in Brazil, Malaysia, Mexico and…