UNDP Around the world

The financial crisis and its impact on developing countries

Published on 25 Feb 2009

Document Summary

In this paper, Stephany Griffith-Jones and José Antonio Ocampo identify three key channels of transmission of the financial crisis from developed to developing countries: capital flows, trade and remittances. The paper provides broad recommendations for policy responses at the national level, and proposes sweeping reforms at the global and regional level.