Tag Archives | Joshua Aizenman
Economics, Finance sector development
Achieving resilient emerging market economies amid the macroeconomic challenges of the 21st century
Emerging market economies have faced a host of challenges in the post-global financial crisis (GFC) environment. The GFC environment was shaped by the confluence of four key developments. The first was financial globalization and de-regulation, processes that started in the late 1970s in Organisation for Economic Co-operation and Development (OECD) countries. These later spread to emerging markets in the 1990s and 2000s and transformed the global financial system into a complex cobweb of global networks, exposing countries to financial shocks transmitted by volatile bursts of capital inflows and outflows of “hot money.”
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