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http://hdl.handle.net/10419/51440
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| Title: | | The multilateral response to the global crisis: Rationale, modalities, and feasibility  |
| Authors: | | Fernández-Arias, Eduardo Powell, Andrew Rebucci, Alessandro |
| Issue Date: | | 2009 |
| Series/Report no.: | | Working paper // Inter-American Development Bank, Research Department 683 |
| Abstract: | | The paper reviews the case for a strong multilateral response to the global crisis in emerging markets (EMs). It discusses modalities and feasibility of intervention and its associated risks, depending on country circumstances of fiscal space and liquidity needs. The specific role of Multilateral Development Banks (MDBs) in ensuring the development effectiveness of the fiscal response is also discussed. The paper concludes by highlighting the international financial architecture issues raised by the global crisis that cannot be addressed immediately but will need to be dealt with once the current crisis has been tamed. |
| Subjects: | | Global Crisis Latin America and Caribbean Multilateral Development Banks Policy Responses |
| JEL: | | F3 F33 F53 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Research Department Working Papers, Inter-American Development Bank
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