Machine generated contents note: 1.Introduction / Jose Luis Oreiro -- 2.Current Crisis in the US and Economic Policy Implications / Elias Karakitsos -- 3.The Global Economic and Financial Crisis: Which Way Forward? / Ann Zammit -- 4.Crises and the Bretton Woods Institutions and the Crises of the Bretton Woods Institutions / Howard Stein -- 5.Crisis in the Euro Zone / Jonathan Perraton -- 6.The Impact of the Current Crisis on Emerging Market and Developing Countries / Felipe Serrano -- 7.The Crisis in Western and Eastern EU: Does the Policy Reaction Address its Origins? / Ozlem Onaran -- 8.The Impact of the Subprime Financial Crisis on the Transition and Central Asian Economies: Causes and Consequences / John S.L. McCombie -- 9.The World Financial Crisis and the Implications for China / Jing Zhang -- 10.The 2008 Financial Crisis and Banking Regulation in Brazil / Rogerio Sobreira -- 11.Exchange-Rate Derivatives, Financial Fragility and Monetary Policy in Brazil during the World Financial Crisis / Flavio Basilio.