The rising resilience of emerging market and developing economies (International Monetary Fund, 2012)
Title from PDF title page (IMF Web site, viewed Dec. 26, 2012). - "Research Department.". - "December 2012."
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 than advanced 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 lower incidence of external and domestic shocks--better policies account for about three-fifths of their improved resilience, while less frequent shocks account for the remainder
Includes bibliographical references