Resilience of emerging market economies to global financial conditions

Kenc T., Erdem F. P., Ünalmış İ.

CENTRAL BANK REVIEW, cilt.16, sa.1, ss.1-6, 2016 (ESCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 16 Sayı: 1
  • Basım Tarihi: 2016
  • Doi Numarası: 10.1016/j.cbrev.2016.03.002
  • Dergi Adı: CENTRAL BANK REVIEW
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), Scopus, TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.1-6
  • Anahtar Kelimeler: Emerging markets, Original sin, Financial crises
  • TED Üniversitesi Adresli: Hayır

Özet

With lessons learned from previous episodes as well as substantial improvements in economic policies and fundamentals over the years emerging market economies (EMEs) on average are better positioned to withstand financial turbulences, both now and in the near future, than in the past. Since their respective last financial crises most EMEs have been implementing more prudent policies, made stronger their governance frameworks and created financial safety nets as a buffer against adverse shocks. As a result, they were able to strengthen their stock and flow balances and policy frameworks, deepen local capital markets, and diversify their production and exports together with stronger global trade and financial linkages.