TITLE

THE ISRAELI ECONOMY: AFTER THE FINANCIAL CRISIS, NEW CHALLENGES

AUTHOR(S)
Rosenberg, David
PUB. DATE
March 2010
SOURCE
MERIA Journal;Mar2010, Vol. 14 Issue 1, p68
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Israel experienced no more than a mild recession as a result of the global financial crisis that began in 2007, a testament to policies adopted by the government over the previous decade. These policies emphasized fiscal restraint, as well as liberalization and increased competition across most of the economy while strengthening regulatory restrictions on the banking sector. Indeed, the only case of market failure in Israel came in the relatively unregulated non-bank credit sector. However, Israel's recent policy successes by themselves are insufficient for ensuring long-term, sustainable growth for the economy. This article suggests that Israeli policy makers must now focus on measures that expand and deepen its knowledge-based industries--which are too reliant on high-technology startup companies--and narrow the social and economic imbalances that have emerged since the 1980s.
ACCESSION #
55792631

 

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