UNU-WIDER The Global Economic Crisis after One Year: Is a New Paradigm for Recovery in Developing Countries Emerging?

One year into the global economic crisis, it has become clear that the paradigm for international development has changed irrevocably. With leadership, moral authority and the capacity of the West in international development diminishing, developing countries’ recovery and future growth will critically hinge on their own initiatives, solutions and leadership. This policy brief summarizes the global responses to the crisis over the past year, points to their shortcomings and argues that a new paradigm for recovery in developing countries is emerging