ABSTRACT
This chapter aims to summarise the key findings with respect to the major objectives posed at the outset and to indicate its contribution to the already considerable and rapidly expanding corpus of literature on the subject. It seeks to provide a number of suggestions for possible future directions of research on the subject. The study also has a number of important theoretical and policy implications which warrant some elaboration. The policy implications arising out of the study follow to a large extent, as one would expect, from the theoretical implications. To begin with, the study suggests that policy makers need to be more circumspect in their use of so-called Dynamic Stochastic General Equilibrium models, the models typically favoured by policy makers the world over, when making policy decisions. Equally important are the policies which strengthen social safety nets safeguarding those sections of the population on low incomes that are most vulnerable to a possible downturn in the global economy.
