How Did Emerging Markets Cope in the Crisis?
Electronic Access:
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Summary:
This paper examines the performance of emerging market economies (EMs) during the recent global crisis and draws policy conclusions. It considers how EMs were affected by the initial impact of the crisis, examines the extent to which they were able to undertake countercyclical policies to moderate the impact, and highlights factors that have influenced the pace and timing of their recovery. Finally, it considers policy challenges facing EMs as the crisis subsides. This paper sheds light on the role of reserves in crises, and provides contextual background for work on the future financing role of the IMF.
Series:
Policy Papers
Subject:
Cross country analysis Economic recovery Emerging markets Financial crisis Fiscal policy Global Financial Crisis 2008-2009 Monetary policy
English
Publication Date:
June 15, 2010
Format:
Paper
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