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URGENT
February 5, 2009
PRESS RELEASE
A Global View on the Economic Slowdown - The 2009 GDN Survey
KUWAIT CITY,February 5: To get a view of how the global community of development researchers perceives the current economic situation, the Global Development Network surveyed the participants of its 10th Annual conference titled ‘Natural Resources and Development’, which took place in Kuwait on February 3-5. This survey is the first global survey, reflecting the views of over 200 respondents, mainly economists, residing in 64 countries in both the developed and the developing world.
The analysis of the 2009 GDN survey, done by Dr. Tom Coupé of the Kyiv School of Economics and the Kyiv Economics Institute, shows that while the economic slowdown is expected to imply negative growth in 2009 in developed countries, developing countries are expected to continue to grow in 2009. At the same time, developed countries are expected to see the bottom of the slowdown somewhat later, with the median estimate being Q1 2010 rather than the Q4 2009 for the developed countries.
Developing countries further are less satisfied with how their governments have handled the slowdown so far and, consistent with this, prefer policy action at a regional or global level rather than the country level. While a mix of policies (monetary, fiscal and/or structural policies) is believed to be most effective in general, developing countries believe, compared to developed countries, more in the effectiveness of structural policies.
The 2009 GDN survey shows further that the poor are widely believed to be the most affected by the economic slowdown and that there exists a wide support, at least among the development community, for special social measures to protect those that are affected most by the slowdown.
The full report can be found at:
About GDN
Celebrating its 10th Anniversary Year in 2009, the Global Development Network (GDN) is a worldwide association of research and policy institutes dedicated to generating, sharing and applying knowledge for the purposes of shaping social development policy outcomes.
The network has eleven regional partners, most of which are located in developing regions. Each network partner links numerous research institutes in its region and facilitates their contact with policymakers. GDN’s key activities comprise Regional Research Competitions, Global Research Projects, Global Development Awards and Medals Competition, Annual Development Conferences and GDNet (the electronic voice of GDN).
GDN’s 10th Annual Conference on "Natural Resources and Developmentishosted by the Arab Fund for Economic and Social Development (AFESD) at their headquarters in Kuwait from February 3-5, 2009.
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For more information, please contact:
Lead Communications Officer
Public Affairs & Communications Unit
Tel: 91-11-26139494, 26136885
Or
Dr. Tom Coupé
Kyiv School of Economics – Kyiv Economics Institute
Address:
2ndFloor, West Wing, ISID Complex, Plot No. 4, Vasant Kunj Institutional Area, New Delhi 110-070 INDIA
Post Box No 7510, Vasant Kunj Post Office, New Delhi 110-070, INDIA
Tel: (91) 11 2613-9494 / 2613-6885 Fax: (91) 11 2613-6893
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