Emerging Markets Come of Age

M. Ayhan Kose and Eswar S. Prasad
These vibrant middle-income countries survived the global recession, but face bumps as they seek to solidify their place in the world economy and flex their political muscles

Gauging China’s Influence

Vivek Arora and Athanasios Vamvakidis
China’s rapid integration and growth are increasingly affecting the rest of the world

Also in This Issue

Stimulus Worked

Alan S. Blinder and Mark Zandi
Without the quick and massive policy response, the Great Recession might still plague the United States

Getting Debt under Control

Emanuele Baldacci, Sanjeev Gupta, and Carlos Mulas-Granados
In dealing with the aftermath of the Great Recession, policymakers must pay attention to the mix of austerity policies

The Tragedy of Unemployment

Mai Chi Dao and Prakash Loungani
Governments can do more to alleviate joblessness and its human costs

Leveraging Inequality

Michael Kumhof and Romain Rancière
Long periods of unequal incomes spur borrowing from the rich, increasing the risk of major economic crises

Faces of the Crisis Revisited

Julian Ryall, Florencia Carbone, Niccole Braynen-Kimani, Hyun-Sung Khang, and Jacqueline Deslauriers
How the global crisis has turned some people's lives upside down

Bad News Spreads

Rabah Arezki, Bertrand Candelon, and Amadou N.R. Sy
When government debt is downgraded, the ill effects can be felt across countries and financial markets

Risky Business

İnci Ötker-Robe and Ceyla Pazarbasioglu
Global banks will adapt to the new international rules on capital and liquidity, but at what cost to investors and the safety of the financial system?

Trusting the Government

Marc Quintyn and Geneviève Verdier
Confidence in government is the key to financial development

Poorest Economies Can Export More

Katrin Elborgh-Woytek and Robert Gregory
Advanced and emerging economies can make it easier for the least developed countries to sell more products abroad

Good for Growth?

Patrick Imam and Kangni Kpodar
The spread of Islamic banking can spur development in countries with large Muslim populations

Put to the Test

Maher Hasan and Jemma Dridi
Islamic banks were more resilient than conventional banks during the global financial crisis