Navigating the Global Storm: A Policy Brief on the Global Financial Crisis
Pacific Island economies are largely shielded from the most immediate effects of the crisis. The region’s banking system is reasonably well placed to weather the crisis. But the region is not immune.
The global financial crisis emerged at an alarming rate. A global credit squeeze led to large falls in international stock markets and the world economy is weakening rapidly. The Pacific is largely shielded from the most immediate effects of the crisis, but it is not immune. This Policy Brief provides early advice on what the global financial crisis could mean for the Pacific and what it could do to lessen its adverse impacts. The key response should be to reinvogate structural reform, which is crucial to achieving sustained economic growth.
- The Global Financial Crisis
- Is the Pacific at Immediate Risk?
- Will the Pacific's Growth Slow?
- International Competitiveness
- A Policy Response