UN Department of Economic and Social Affairs (DESA) Working Papers

Crisis Mismanagement in the US and Europe: Impact on Developing Countries and Longer-Term Consequences

DOI:https://dx.doi.org/10.18356/f48588f2-en

There are two major failings in policy interventions in the crisis in the US and Europe: the reluctance to remove the debt overhang through timely, orderly and comprehensive restructuring and the shift to fiscal austerity after an initial reflation. These have resulted in excessive reliance on...



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