Abstract
The global financial crisis translated into a real sector economic crisis as reductions in income, wealth and credit resulted in a reduced demand for goods and services, and subsequently inventory decumulation and production cutbacks. Since the majority of developing countries are closely linked through trade and investment channels to developed economies, the economic crisis has severely affected them.
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Downes, A.S. (2012). The Global Economic Crisis and Labour Markets in the Small States of the Caribbean. In: Utting, P., Razavi, S., Buchholz, R.V. (eds) The Global Crisis and Transformative Social Change. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137002501_9
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DOI: https://doi.org/10.1057/9781137002501_9
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