The Rising Resilience of Emerging Market and Developing Economies

47 Pages Posted: 28 Feb 2013

See all articles by Abdul G. Abiad

Abdul G. Abiad

International Monetary Fund (IMF) - Research Department

John C. Bluedorn

International Monetary Fund (IMF) - Research Department

Jaime Guajardo

International Monetary Fund (IMF)

Petia B. Topalova

International Monetary Fund (IMF)

Date Written: December 2012

Abstract

Economic performance in many emerging market and developing economies (EMDEs) improved substantially over the past twenty years. The past decade was particularly good-for the first time EMDEs spent more time in expansion and had smaller downturns thanadvanced economies. In this paper we document the history of EMDEs' resilience over the past sixty years, and investigate what factors have been associated with it. We find that their improved performance in recent years is accounted for by both good policies and a lowerincidence of external and domestic shocks-better policies account for about three-fifths of their improved resilience, while less frequent shocks account for the remainder.

Keywords: Developing countries, Economic growth, Economic recovery, Emerging markets, developing countries, development, emerging markets, expansion, growth, low-income countries, recovery.

JEL Classification: E32, E60, F43, O11, O23, O40

Suggested Citation

Abiad, Abdul G. and Bluedorn, John C. and Guajardo, Jaime and Topalova, Petia B., The Rising Resilience of Emerging Market and Developing Economies (December 2012). IMF Working Paper No. 12/300. Available at SSRN: https://ssrn.com/abstract=2226264

Abdul G. Abiad (Contact Author)

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

John C. Bluedorn

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Jaime Guajardo

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Petia B. Topalova

International Monetary Fund (IMF) ( email )

700 19th Street N.W.
Washington, DC 20431
United States

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