Who fell in 2009: Those with current account deficits or with extra froth?
Ashoka Mody, 21 January 2010Virtually no country was untouched by the crisis. But which countries saw the sharpest declines in GDP– and why? This column shows that those with higher growth rates before the crisis fell harder while relatively-closed economies were somewhat insulated. In contrast, the relationship between current account deficits and the decline in growth rates if fuzzier. Full Article: Who fell in 2009: Those with current account deficits or with extra froth?