The Crisis and Beyond

James L. Rowe, Jr.
Five years after the first rumblings in the U.S. mortgage market presaged the greatest global financial crisis since the 1930s, the global economy remains in distress

Tracking the Global Recovery

M. Ayhan Kose, Prakash Loungani, and Marco E. Terrones
Most emerging markets are doing fine, but most advanced economies are not and things seem unlikely to change

Progress with risks
Global outlook

Fixing the System

Laura Kodres and Aditya Narain
After a burst of effort to reform financial regulation widely perceived as contributing to the global crisis, the pace has slowed

Finance and the good society

Trade Policy: So Far So Good?

Bernard Hoekman
There was no widespread resort to protectionism during the global crisis but there have been recent moves in that direction

Shedding Debt

Stijn Claessens
Until households and financial institutions repair their balance sheets, recovery in many advanced economies will be halting

Bystanders at the Collapse

Sarwat Jahan and Brad McDonald
Emerging markets and low-income countries weathered the global recession. Can they survive further shocks?

Asian growth

Stable Disequilibrium

Mohamed A. El-Erian
Persistent, large payment surpluses and deficits threaten global long-term economic well-being and financial stability

Commodities in Boom

Thomas Helbling
The global economic crisis hurt commodity prices far less than in earlier recessions. The long-run outlook is murkier

Climbing commodity prices

Also in This Issue

Going Green

Luc Eyraud and Benedict Clements
Investment in environmentally friendly technologies is growing globally

Dirty Money, Real Pain

Paul Ashin
Money laundering harms innocent individuals but can also impose serious costs on national economies

Out of the Shadows

Anoop Singh, Sonali Jain-Chandra, and Adil Mohommad
Governments are wise to shrink their underground economy by improving institutions to build inclusive growth

More Jobs, Better Jobs

Kalpana Kochhar, Pradeep Mitra, and Reema Nayar
A rapid increase in south Asia's labor force calls for cross-sectoral policy reforms to support continued growth of high-quality jobs