World Economic Situation and Prospects 2014

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The World Economic Situation and Prospects (WESP) is the definitive report of the United Nations on the state of the world economy. One of the most highly anticipated economic reports from the United Nations, it is jointly produced by the Department of Economic and Social Affairs, the United Nations Conference on Trade and Development and the five United Nations Regional Commissions.



International finance for development

The global financial crisis demonstrated the substantial risks that the international financial system can pose to the real economy and global development. Yet, despite efforts by the international community to implement reforms (particularly in the area of financial regulations), significant risks in the financial system remain, more than five years after the crisis. Risks include vulnerabilities in the banking and shadow banking systems, as well as in short-term volatile capital flows, global imbalances, weakening fiscal positions and sovereign debt overhangs.


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