Riding global financial waves: the economic impact of global financial shocks on emerging market economies
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.]
International Monetary Fund
2012
|
| Series: | IMF working paper
WP/12/188 |
| Subjects: | |
| Online Access: | FAW01 FAW02 FLA01 |
| Item Description: | "July 2012.". - At head of title: Western Hemisphere Department Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping to increase their resiliency to these shocks. Against a backdrop of these opposing forces, are these economies more vulnerable to global financial shocks today than in the past? Have better fundamentals offset increasing financial integration? If so, what fundamentals matter most? We address these questions by examining the role of these two forces over the past two decades in amplifying or buffering the economic impact of these shocks. Our findings show that EMEs, with the exception of Emerging Europe, have become less vulnerable. Exchange rate flexibility and external sustainability are key determinants of the impact of these shocks, while the extent to which deeper financial integration is a source of vulnerability depends on the exchange rate regime |
| Physical Description: | 26 pages |
| ISBN: | 9781475566789 1475566786 |
Staff View
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| indexdate | 2024-07-10T07:35:07Z |
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| isbn | 9781475566789 1475566786 |
| language | English |
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| spelling | Adler, Gustavo 1974- Verfasser aut Riding global financial waves the economic impact of global financial shocks on emerging market economies prepared by Gustavo Adler and Camilo E. Tovar [Washington, D.C.] International Monetary Fund 2012 26 pages txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/12/188 "July 2012.". - At head of title: Western Hemisphere Department Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping to increase their resiliency to these shocks. Against a backdrop of these opposing forces, are these economies more vulnerable to global financial shocks today than in the past? Have better fundamentals offset increasing financial integration? If so, what fundamentals matter most? We address these questions by examining the role of these two forces over the past two decades in amplifying or buffering the economic impact of these shocks. Our findings show that EMEs, with the exception of Emerging Europe, have become less vulnerable. Exchange rate flexibility and external sustainability are key determinants of the impact of these shocks, while the extent to which deeper financial integration is a source of vulnerability depends on the exchange rate regime BUSINESS & ECONOMICS / Finance bisacsh Capital movements / Econometric models fast Financial crises / Econometric models fast Foreign exchange administration / Econometric models fast Entwicklungsländer Wirtschaft Ökonometrisches Modell Financial crises Developing countries Econometric models Capital movements Developing countries Econometric models Foreign exchange administration Developing countries Econometric models Tovar Mora, Camilo Ernesto Sonstige oth International Monetary FundXXbWestern Hemisphere Department Sonstige oth |
| spellingShingle | Adler, Gustavo 1974- Riding global financial waves the economic impact of global financial shocks on emerging market economies BUSINESS & ECONOMICS / Finance bisacsh Capital movements / Econometric models fast Financial crises / Econometric models fast Foreign exchange administration / Econometric models fast Entwicklungsländer Wirtschaft Ökonometrisches Modell Financial crises Developing countries Econometric models Capital movements Developing countries Econometric models Foreign exchange administration Developing countries Econometric models |
| title | Riding global financial waves the economic impact of global financial shocks on emerging market economies |
| title_auth | Riding global financial waves the economic impact of global financial shocks on emerging market economies |
| title_exact_search | Riding global financial waves the economic impact of global financial shocks on emerging market economies |
| title_full | Riding global financial waves the economic impact of global financial shocks on emerging market economies prepared by Gustavo Adler and Camilo E. Tovar |
| title_fullStr | Riding global financial waves the economic impact of global financial shocks on emerging market economies prepared by Gustavo Adler and Camilo E. Tovar |
| title_full_unstemmed | Riding global financial waves the economic impact of global financial shocks on emerging market economies prepared by Gustavo Adler and Camilo E. Tovar |
| title_short | Riding global financial waves |
| title_sort | riding global financial waves the economic impact of global financial shocks on emerging market economies |
| title_sub | the economic impact of global financial shocks on emerging market economies |
| topic | BUSINESS & ECONOMICS / Finance bisacsh Capital movements / Econometric models fast Financial crises / Econometric models fast Foreign exchange administration / Econometric models fast Entwicklungsländer Wirtschaft Ökonometrisches Modell Financial crises Developing countries Econometric models Capital movements Developing countries Econometric models Foreign exchange administration Developing countries Econometric models |
| topic_facet | BUSINESS & ECONOMICS / Finance Capital movements / Econometric models Financial crises / Econometric models Foreign exchange administration / Econometric models Entwicklungsländer Wirtschaft Ökonometrisches Modell Financial crises Developing countries Econometric models Capital movements Developing countries Econometric models Foreign exchange administration Developing countries Econometric models |
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