בארי טאף: יציבות מקומית בעולם לא יציב

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2. 1. 2. 3. 4. -Disclaimer .2 2102 3. ?, : , , "3 2102 4. *%)1102-0002(74.6 5 6.37.3 6.30.3 1.39.28.23 3.2 5.2 4.22.28.18.1 4.12.1 9.01 3.0-1-7.0-9.0-3- 6.2- 6.2- 6.2- 2.4-5- 00 1020 304050607080 90 01 11 02 0202 020202020202 02 02 024 * - OECD . : - OECD 5. ) ", 1102-5991(%5434 149373533313927259697989990010203040506070809001119191919191020202020202020202020202 " . .5: . 6. ? : , , " : 6 2102 7. 7600/ 55 56 57 58 595015115215315415515615716 800/6 110/6 100/7 400/7 700/7 900/7 210/7 30 " 0010/8 500/8 800/8 010/8 100/9 400/9 600/9 900/"9 210/9 20)001=6002/6/1(1/0 501/0 701/ ) EM (0 011/0 101/1 301/1 601/1 901/1 111/1 201/2 401/2 : , " : Bloomberg 8. " - " -01 -EMBI ) , 2102-6002(057056055054053052051 0566778899001120/0/0/0/0/0/0/0/1/1/1/1/1/10701070107010701070107010 +EMBI -" -01 8 : 9. Risk- on, Risk- off9 2102 10. : / / 01 2102 11. - 59911102 %0.5 %63 %51 %5.74 %5.61 %12 %82 %0.13 : , , , , ,. : , , , . : , , -, , , , ". : , , , , , , .11 : . 12. : / / - 21 2102 13. ) , 1102-0002(%7151 "31 11 9 7 5 3 11-3-5- 0002 100220023 00 24 00 2 5 00 2 60027002 80029002 0 10 2 1 10 2 " %) , 1102-0002(816141 "21 01 8 6 4 2 02-0 002 100 2 2002 3 002 4002 5 002 600 2 7002 800 2 9002 0 102110 231 : 14. : / / Geo political41 2102 15. : 5 - CDS 51 2102 16. : / / Geo political 17. ? . .71 2102 18. "The 3 RsReading ,riting ,rithmetic 4 "Rs Resistance Resilience Recovery Reform , , ,81 2102 19. -Resistance - ,, 91 2102 20. * %) , **2102-0002( 7 68.55 5 5 44 4 4.353.31.3 34.22 2 4.11 12.0 0 0002 1002 2002 3002 4002 5002 6002 7002 8002 90020102 11022012F* " ". ** .02 : .: 21. : (2010) % 20 18 1613.9 13.8 14 12 10 8 6 4 2 0ndy ia g ads k ndn.. d .Ayce ea leel ge .K ep e ep an ad uraraian al ec alla anra hian .S or ra la R RUSp m Itboan trm re erCel IsUPoKFr rl ve ch ak user enIr emG CitzheA GAze ovD Sw et ux CSlNL21(: ) " 22. - Resilience 22 2102 23. % ) , 1102(5404530352 9.02 8.81025101 5 0 " 32 : 21/40 IMF World Economic Outlook 24. - Resilience 42 2102 25. ) (061041021001 08 06 04 0209 9 9 1- 2 1 0 0 0 2- 2 11 0 0 2- 2 1 2 0 0 2- 2 13 0 0 2- 2 1 4 0 0 2- 2 15 0 0 2- 2 1 6 0 0 2- 2 17 0 0 2- 2 1 8 0 0 2- 2 19 0 0 2- 2 1 0 1 0 2- 2 11 1 0 2- 2 1 2 1 0 2- 2 1 " " 52 2102 26. % ) , 1102-5991( 68.4 4 6.3 1.39.2 7.2 27.19.0 5.0 1.0 09.0-1.1- 2-7.1-6.1- 7.1-0.3- 4- 0.5-9.4- 6-5991 6991 799189919991 0002 10022002 30024002 50026002 70028002 90020102 110262* 1102 : : 27. - Resilence " 72 2102 28. ) 1002 1102( : 82 2102 29. - Recovery 92 2102 30. ) , *2102 0002( % 7.69 3.99 7.79 0017.390.98 3.487.481.87 1.77 5.97 1.67 2.4708 2.47060402 0 0002 1002 2002 3002 4002 5002 6002 7002 8002 9002 01022011 2012F03* -2102 31. - Recovery 13 2102 32. ) 2102( 5.2 " 0 2 4 6 8 01 2123: 33. - Recovery 33 2102 34. 1102, 35. - Recovery Macro prudential 53 2102 36. : " 63 2102 37. - Reforms , 73 2102 38. 39. Never in the history of mankind have so many got it so wrong for so long Life is a long lesson in Humility James Barrie Primum Non Noncere -: "" : " (18 ) "39 2102 40. : - - , . 04 2102 41. 14 2102 42. 210224 2102 43. "

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