Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/51440
Authors: 
Fernández-Arias, Eduardo
Powell, Andrew
Rebucci, Alessandro
Year of Publication: 
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

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