Промежуточные итоги первого глобального кризиса

Презентация выступления на международной конференции в Европейском учебном институте при МГИМО (У) 22 октября 2009 года.

Main Points

• Global Crisis: no region in the world is immune
• Financial transmission channels powerful and near-immediate
• Externally exposed countries (like RU) more vulnerable to first-order impact
• Feed-back loops with the real economy
• Impact and lag dependant on initial positions and adequacy of policy responses
• Recent stabilisation, but risks remain
• Cross-country variation in policy responses and instruments, depending on prior buffers and on the adequacy of policy actions
• Fiscal policy: near-term versus long-term
• Priority to stabilisation, but long-term fiscal implications
• Crisis response should not jeopardise implementing long-term reform agenda
• Securing external financing
• Global crisis – global policy responses; devising global responses within the G20

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