Twitter
Session
Committees
Groups
Constituency Week
Conciliation Committee
12.03.2010
Global Economic Prospects 2010: Crisis, Finance, and Growth
Carnegie Endowment for International Peace
Avenue d'Auderghem, 82
B-1040 Brussels, Belgium
Phone: +32 2 735 5650
Fax: +32 2 736 6222
Email: info@carnegieeurope.eu
Link to the organizer
URL of event
Global Economic Prospects 2010: Crisis, Finance, and Growth
Carnegie Endowment for International Peace
Avenue d'Auderghem, 82
B-1040 Brussels, Belgium
Phone: +32 2 735 5650
Fax: +32 2 736 6222
Email: info@carnegieeurope.eu
Link to the organizer
URL of event
Conference / Convention
Type of Event
Budget & Monetary Affairs
Policy Field of Event
Registration required
Limitation
Brussels
Brussels
Brussels
Location of event
While the worst of the financial crisis may be over, the global recovery is fragile and the fallout from the crisis will change the landscape for finance and growth over the next 10 years, concludes the latest edition of the World Bank’s flagship report, the Global Economic Prospects.
The report warns that, despite the return to positive growth, it will take several years before economies recoup the losses already endured. It estimates that about 64 million more people will be living in extreme poverty in 2010 than would have been the case had the crisis not occurred. Further, over the next 5 to 10 years, increased risk aversion, a more prudent regulatory stance, and the need to curb some of the riskier lending practices during the boom period that preceded the crisis can be expected to result in scarcer, more expensive capital for developing countries.
But the report’s authors argue that developing countries can and should reduce domestic borrowing costs and promote local capital markets by expanding regional financial centers and improving competition and regulation in local banking sectors.
The report warns that, despite the return to positive growth, it will take several years before economies recoup the losses already endured. It estimates that about 64 million more people will be living in extreme poverty in 2010 than would have been the case had the crisis not occurred. Further, over the next 5 to 10 years, increased risk aversion, a more prudent regulatory stance, and the need to curb some of the riskier lending practices during the boom period that preceded the crisis can be expected to result in scarcer, more expensive capital for developing countries.
But the report’s authors argue that developing countries can and should reduce domestic borrowing costs and promote local capital markets by expanding regional financial centers and improving competition and regulation in local banking sectors.
Infos
Sandor Sipos: World Bank Special Representative to the EU (Chair); Andrew Burns: Lead Author and Task Manager of Global Economic Prospects; Uri Dadush: Director of International Economics Program, Carnegie Endowment for International Peace; Moreno Bertoldi: Head of Unit for Relations with the IMF and G7-G8, DG ECFIN, EC; Nicolas Jeanmart: Head of Banking Supervision and Economic Affairs, World Savings Bank; Peter Praet: Director, National Bank of Belgium.
People
