Oxford Martin School: Public Lectures And Seminars

Professor David Vines, Professor of Economics at INET Oxford, discusses the need for international cooperation to support emerging economies after the covid-19 crisis. The Covid crisis has caused the greatest collapse in economic activity since 1720. Some advanced countries have mounted a massive fiscal response, both to pay for disease-fighting action and to preserve the incomes of firms and workers until the economic recovery is underway. But there are many emerging market economies which have been be prevented from doing what is needed by their high existing levels of public debt and - especially - by the external financial constraints which they face. Professor David Vines, Professor of Economics at INET Oxford, discusses that there is a need for international cooperation to allow such countries to undertake the kind of massive fiscal response that all countries now need, and that many advanced countries have been able to carry out. So far such cooperation has been notably lacking; the contrast with wha