Lin , Justin Yifu
The financial crisis and its impacts on global agriculture Lin , Justin Yifu [electronic resource] / Lin , Justin Yifu - Washington, D.C., The World Bank, 2010 - 1 online resource (26 p.) - Policy research working papers. World Bank e-Library. .
The financial crisis arose in the industrial countries, but has affected developing countries through higher interest rates, sharp changes in commodity prices, and reductions in investment, trade, migration and remittances. For most low-income countries, shocks that affect food prices or wage rates for unskilled workers seem likely to have the largest impact on poverty, with the declines in key food prices associated with the crisis helping to reduce poverty, while declining trade, investment, and remittance flows have had adverse impacts on the poor. Policies to address the crisis must include measures to deal with financial sector problems, the resulting reductions in aggregate demand, and the particular vulnerabilities of poor people. Given the complexity of the impacts from financial crises and commodity price shocks, there is a strong case for developing better social safety net policies that can offset the adverse impacts of a wide range of different shocks on poor people without creating costly market distortions.
10.1596/1813-9450-5431
Aggregate demand
Capital flows
Commodity
Commodity price
Commodity prices
Currencies and Exchange Rates
Debt Markets
Developing countries
Economic Theory & Research
Emerging Markets
Finance and Financial Sector Development
Financial assets
Financial crises
Financial crisis
Financial instruments
Financial sector
Financial system
Food prices
Income
Industrial countries
Interest rates
Low-income countries
Macroeconomics and Economic Growth
Market distortions
Markets and Market Access
Private Sector Development
Savings
Social safety net
The financial crisis and its impacts on global agriculture Lin , Justin Yifu [electronic resource] / Lin , Justin Yifu - Washington, D.C., The World Bank, 2010 - 1 online resource (26 p.) - Policy research working papers. World Bank e-Library. .
The financial crisis arose in the industrial countries, but has affected developing countries through higher interest rates, sharp changes in commodity prices, and reductions in investment, trade, migration and remittances. For most low-income countries, shocks that affect food prices or wage rates for unskilled workers seem likely to have the largest impact on poverty, with the declines in key food prices associated with the crisis helping to reduce poverty, while declining trade, investment, and remittance flows have had adverse impacts on the poor. Policies to address the crisis must include measures to deal with financial sector problems, the resulting reductions in aggregate demand, and the particular vulnerabilities of poor people. Given the complexity of the impacts from financial crises and commodity price shocks, there is a strong case for developing better social safety net policies that can offset the adverse impacts of a wide range of different shocks on poor people without creating costly market distortions.
10.1596/1813-9450-5431
Aggregate demand
Capital flows
Commodity
Commodity price
Commodity prices
Currencies and Exchange Rates
Debt Markets
Developing countries
Economic Theory & Research
Emerging Markets
Finance and Financial Sector Development
Financial assets
Financial crises
Financial crisis
Financial instruments
Financial sector
Financial system
Food prices
Income
Industrial countries
Interest rates
Low-income countries
Macroeconomics and Economic Growth
Market distortions
Markets and Market Access
Private Sector Development
Savings
Social safety net