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Global Economic Prospects and the Developing Countries 2000

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Global Economic Prospects and the Developing Countries 2000 reviews the recovery from the East Asian financial crisis and the prospects for developing countries; traces the impact of the crisis on poverty; analyzes the difficulties facing businesses and financial institutions in countries hard hit by the crisis; and discusses the implications of the recent volatility in commodity prices, in part caused by the crisis, for commodity-dependent economies.

The financial crisis highlighted how globalization, especially financial integration, exposes developing countries to external shocks that can increase poverty. The crisis led to a significant rise in income poverty and engendered costly, large reallocations of people and sharp declines in middle-class standards of living. The crisis also reduced real public expenditures on education and health, with some countries experiencing significant declines in poor households’ access to both health and education services.


The World Bank Development Prospects Group prepared this report. Mustapha Nabli was the principal author, assisted by William Shaw, with direction from Uri Dadush. The report was written under the general direction of Joseph Stiglitz, former World Bank Chief Economist and Senior Vice President.  Core team and chapter authors included: Ashoka Mody, Elliot “Mick” Riordan and William Shaw.

Press Release:  English, Japanese, French, Russian, Portugues, German, Spanish, Arabic
Powerpoint Presentation: English  

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