Emerging Markets Come of Age
M. Ayhan Kose
International Monetary Fund (IMF)
Eswar S. Prasad
Cornell University - Dyson School of Applied Economics and Management; Cornell University - Department of Economics; Brookings Institution; NBER; Institute for the Study of Labor (IZA)
December 1, 2010
Finance and Development, p. 7, December 2010
This article provides a brief assessment of the resilience of emerging market countries in the face of the global financial crisis. It shows that emerging markets, as a group, weathered the crisis much better than the advanced countries and most of these economies have bounced back rapidly from the global recession. It tracks down the reasons for the resilience of EMEs and explains why some countries in this group have done better than others. It also draws out lessons for the durability and sustainability of these economies’ long-term growth.
Number of Pages in PDF File: 5Accepted Paper Series
Date posted: December 18, 2010
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