Publisher's Synopsis
As the debates about the recent global recession and the subsequent recovery have clearly shown, our understanding of these questions has been very limited. This book undertakes a systematic analysis of global recessions and recoveries to address these questions. Specifically, it defines the terms of global recessions and recoveries; documents their main features; describes the events that take place around these episodes; puts the latest global recession and ongoing recovery in perspective; and analyses the interactions between fluctuations in the global growth and national growth over the different phases of the global cycle.
