Emerging Markets Come of Age

Finance and Development, p. 7, December 2010

5 Pages Posted: 18 Dec 2010  

M. Ayhan Kose

Development Prospects Group at the World Bank

Eswar S. Prasad

Cornell University - Dyson School of Applied Economics and Management; Cornell University - Department of Economics; Brookings Institution; NBER; IZA Institute of Labor Economics

Date Written: December 1, 2010

Abstract

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.

Suggested Citation

Kose, M. Ayhan and Prasad, Eswar S., Emerging Markets Come of Age (December 1, 2010). Finance and Development, p. 7, December 2010 . Available at SSRN: https://ssrn.com/abstract=1726046

M. Ayhan Kose (Contact Author)

Development Prospects Group at the World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States

Eswar S. Prasad

Cornell University - Dyson School of Applied Economics and Management ( email )

440 Warren Hall
Ithaca, NY 14853
United States

HOME PAGE: http://prasad.aem.cornell.edu

Cornell University - Department of Economics ( email )

414 Uris Hall
Ithaca, NY 14853-7601
United States

Brookings Institution ( email )

1775 Massachusetts Ave, NW
Washington, DC 20036
United States

NBER ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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