Executive summary
- Author: United Nations Department of Economic and Social Affairs
- Main Title: World Economic Situation and Prospects 2009 , pp iii-xiv
- Publication Date: February 2009
- DOI: https://doi.org/10.18356/b8b7054c-en
- Language: English
The world economy is mired in the worst financial crisis since the Great Depression. What first appeared as a sub-prime mortgage crack in the United States housing market during the summer of 2007 began widening during 2008 into deeper fissures across the global financial landscape and ended with the collapse of major banking institutions, precipitous falls on stock markets across the world and a credit freeze. These financial shockwaves have now triggered a full-fledged economic crisis, with most advanced countries already in recession and the outlook for emerging and other developing economies deteriorating rapidly, including those with a recent history of strong economic performance.
© United Nations
ISBN (PDF):
9789211562613
Book DOI:
https://doi.org/10.18356/024b6cee-en
Related Subject(s):
Economic and Social Development
Sustainable Development Goals:
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