№308. Policy Lessons for Macroeconomic and Financial Crisis Management in the Southern and Eastern Mediterranean
№308. Policy Lessons for Macroeconomic and Financial Crisis Management in the Southern and Eastern Mediterranean

Author(s): Rym Ayadi, Willem Pieter DE GROEN
Subject(s): Supranational / Global Economy, Economic policy, Financial Markets
Published by: CEPS Centre for European Policy Studies
Keywords: Macroeconomic and Financial Crisis Management; Southern and Eastern Mediterranean;
Summary/Abstract: The 2007-09 global financial crisis led to a virtual collapse in economic activity and increased financial volatility worldwide. For the developing countries, the main channel of transmission has been a drop inexternal transactions, such as trade, financial and capital flows, and remittances. The southern and eastern Mediterranean countries (SEMC) have also faced declining economic activity, although there seems to be considerable variation in the relative magnitudes and timing of the decline.

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