Date of Award
Peter Sai-Wing Ho, Ph.D.
Bangladesh, Great Recession, Low-income countries, Zambia
The implosion of the 2008 financial crisis ignited fears that integration would transmit the crisis’ effects throughout the global system. Examining two countries, Bangladesh and Zambia, this project shows that low-income countries with relatively little integration also saw negative impacts. This occurred through three main transmission mechanisms: trade flows, rising prices and financial flows that could have possible long-term effects at the macro and micro level. The manner and impact of each transmission mechanism, however, varied among LICs according to each country’s individual structural economic and financial vulnerabilities. Bangladesh saw a delayed impact but did not avoid the crisis completely, while Zambia saw a quick impact but recovered sooner. Where their individual cases converge, they offer recommendations for other LICs embarking on trade and financial liberalization in an interconnected but risky system.
Hartgen, Rachel F., "Transmission Linked to Structural Vulnerability: How Low-Income Countries Endured the Great Recession" (2011). Electronic Theses and Dissertations. 274.
Received from ProQuest
Economics, International relations