Half Title Page -- Title Page -- Copyright -- Contents -- About the Editors and Contributors -- Acknowledgments -- Abbreviations -- 1 Managing Openness: From Crisis to Export-Led Growth, Version 2.0 -- Roots of the Crisis and Global Imbalances -- The Impact of the Global Financial Crisis on Trade and Protectionism -- Should Countries Reassess Export Orientation? -- Changing Dynamics in Global Trade -- The New Trade Policy Agenda -- Conclusion -- Bibliography -- Part I The Crisis, Global Imbalances, and Rebalancing -- 2 Managing Openness: Lessons from the Crisis: for Emerging Markets -- Who Was Hit, and Why? -- Why Was the Collapse of Trade So Dramatic? -- The Role of Global Imbalances -- How Should Emerging Markets Respond? -- In Sum -- Notes -- Bibliography -- 3 Global Imbalances: Past and Future -- The Nature of Global Imbalances -- The Future of Global Imbalances and Implications for Developing Countries -- Conclusion -- Notes -- Bibliography -- 4 Rebalancing Trade after the Crisis -- The Decline in Global Imbalances: Rebalancing versus the Trade Collapse -- Rebalancing across Countries and Future Trade Growth -- Conclusion -- Notes -- Bibliography -- 5 An Anatomy of Trade in the 2008-09 Crisis -- Changes in the Intensive and the Extensive Margins -- Demand and Supply Shocks -- Variation by Product Type -- Variation by Income Group -- Were Any of These Trends Present before the Crisis? -- Conclusion -- Notes -- Bibliography -- 6 Developing Countries, New Trade Barriers, and the Global Economic Crisis -- Protectionism from the Perspective of Domestic Industries and Importing Economies -- Developing-Country Exporters and the Incidence of Crisis-Era Protectionism -- Policy Implications and Conclusions -- Notes -- Bibliography -- 7 Turning toward China? The 2008 Crisis and Its Influence on Brazil's Development Model.

Trends in Brazilian Trade Orientation before the 2008 Crisis -- The 2008 Crisis: Impacts and Responses -- The "Exit" and New Directions in Development -- Bibliography -- Part II Open but not Dependent: South-South Trade and Export Diversification -- 8 Changing Dynamics in Global Trade -- The New Drivers of Global Trade -- The Effects of Changes in Demand on Supply Patterns -- Conclusion -- Notes -- Bibliography -- 9 Sources of Export Growth in Developing Countries -- Recent Trends in Global Trade and GDP -- Are Global Trade Patterns Sustainable in the Future? -- Conclusion -- Notes -- Bibliography -- 10 China's Trade and Investment with the South Pre- and Postcrisis -- China's Trade with the South, 1995-2007 -- China's Future Trade with the South -- China's FDI Flows with the South -- The Financial Crisis and China's Southern Trade -- China's Trade Performance and That of Other Asian Countries during the Financial Crisis -- Institutional Dimensions of China's Growing Southern Links -- Concluding Remarks -- Note -- Bibliography -- 11 Volatility, Export Diversification, and Policy -- The Effect of Increased Trade Openness on Vulnerability to Global Shocks -- Most Countries Benefit from Increased Openness -- Facilitating Export Diversification -- Conclusion -- Notes -- Bibliography -- 12 The Effects of Exports on Productivity and Volatility: Evidence from Malaysian Firm-Level Data -- The Effect of Exports on Productivity -- The Effect of Exports on Output Growth Volatility -- Conclusion -- Bibliography -- Part III Lessons in Managing Openness from Country and Regional Experiences -- 13 The International Crisis and Latin America: Growth Effects and Development Strategies -- Latin America's Growth Performance -- Explaining the Amplitude of the 1998-99 and 2008-09 Recessions -- Implications for Policies and Growth Strategies -- Final Remarks -- Notes.

Bibliography -- 14 The Economic Crisis of 2008-09 and Development Strategy: The Mexican Case -- Dimensions of the Crisis -- The Channels of Transmission -- The Policy Response -- Why Was the Crisis So Severe? -- Looking Ahead: The Crisis, Macroeconomic Policy, and Development Strategy -- The Reform of Monetary and Exchange-Rate Policy -- Conclusions -- Notes -- Bibliography -- 15 The International Crisis and Development Strategies: The Case of Chile -- Chilean Development Strategy -- World Economic Cycle and Chile's Growth -- Transmission Mechanisms of the 2008-09 Economic Crisis -- Overall Impact of the 2008-09 Economic Crisis on Chile -- Chilean Policy Reaction to the 2008-09 Crisis -- Conclusions -- 16 The International Crisis and Development Strategies: The Case of Malaysia -- State of the Malaysian Economy before the Global Crisis -- Impact of the 2008 Global Crisis -- Recovery -- Malaysia's Development Strategies Going Forward -- Proposals for Bringing Sustained High Growth to Malaysia -- 17 Should Indonesia Say Goodbye to Its Strategy of Facilitating Exports? -- The Impact of the Global Financial Crisis on Indonesia -- Should We Say Goodbye to the Strategy of Facilitating Exports? -- Export Diversification: The Indonesian Experience -- How to Promote Export Diversification: The Role of Policy -- Conclusion -- Notes -- Bibliography -- 18 India: Managing Openness for a Rapidly Developing Domestic Market -- India's Recent Growth Experience -- India's Growth Model: Greater Openness but Also a Rapidly Developing Domestic Market -- India's Approach to Capital Account Liberalization -- Macroeconomic Management and Capital Flows -- Annex: Framework for Quantifying Policy Choices under the Impossible Trinity -- Notes -- Bibliography -- 19 Exports and Export Diversification in Sub-Saharan Africa: A Strategy for Postcrisis Growth.

The Importance of Export Structure -- Trends in Exports and Export Diversification -- The Effect of Exports and Export Diversification on Growth -- The Economic Crisis in Sub-Saharan Africa -- Policy Implications for Postcrisis Export Strategies -- Bibliography -- Part IV Emerging Trade Policy Issues in the Postcrisis Environment -- 20 Structural Changes in Commodity Markets: New Opportunities and Policy Challenges for Commodity Exporters -- Structural Changes in Commodity Markets -- Prospects for Commodity Prices -- A Historical Account of the Commodities Literature -- Policy Recommendations to Foster a Sectorally Balanced, Resource-Based Economy -- Conclusions -- Notes -- Bibliography -- 21 Global Production Networks in the Postcrisis Era -- Drivers in the Spread of GPNs -- Mapping Global Production Networks: China's Processing Trade Regime -- Peak Oil and Intra-GPN Trade -- Intra-GPN Trade and the Global Recession -- Conclusion -- Notes -- Bibliography -- 22 The 2008-09 Recession: Implications for International Labor Migration -- Recent Trends in Population and Migration -- Future Supply of Migrants -- Economic Implications of Migration -- Conclusions and Recommendations -- Notes -- Bibliography -- 23 Trade and Climate Policies after the Crisis -- The Contours of the Next Multilateral Climate Agreement -- The Role of Trade in GHG Mitigation -- Climate Change and the WTO -- Final Reflections: Lessons from World Trade for Governing Climate Change -- Notes -- Bibliography -- Index -- Back Cover.