Emerging Market Volatility: Lessons from The Taper Tantrum
Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discussed its plans for tapering unconventional monetary policies, these emerging markets have...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2014
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Schriftenreihe: | IMF Staff Discussion Notes
Staff Discussion Notes No. 14/9 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discussed its plans for tapering unconventional monetary policies, these emerging markets have experienced financial turbulence at the same that their domestic economic activity has slowed. This paper examines their experiences and policy responses and draws broad policy lessons. For emerging markets, good macroeconomic fundamentals matter, and early and decisive measures to strengthen macroeconomic policies and reduce vulnerabilities help dampen market reactions to external shocks. For advanced economies, clear and effective communication about the exit from unconventional monetary policy can and did help later to reduce the risk of excessive market volatility. And for the global community, enhanced global cooperation, including a strong global financial safety net, offers emerging markets effective protection against excessive volatility |
Beschreibung: | 1 Online-Ressource (29 p) |
ISBN: | 1498318207 9781498318204 |
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record_format | marc |
series2 | IMF Staff Discussion Notes |
spelling | Sahay, Ratna Verfasser aut Emerging Market Volatility Lessons from The Taper Tantrum Sahay, Ratna Washington, D.C International Monetary Fund 2014 1 Online-Ressource (29 p) txt rdacontent c rdamedia cr rdacarrier IMF Staff Discussion Notes Staff Discussion Notes No. 14/9 Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discussed its plans for tapering unconventional monetary policies, these emerging markets have experienced financial turbulence at the same that their domestic economic activity has slowed. This paper examines their experiences and policy responses and draws broad policy lessons. For emerging markets, good macroeconomic fundamentals matter, and early and decisive measures to strengthen macroeconomic policies and reduce vulnerabilities help dampen market reactions to external shocks. For advanced economies, clear and effective communication about the exit from unconventional monetary policy can and did help later to reduce the risk of excessive market volatility. And for the global community, enhanced global cooperation, including a strong global financial safety net, offers emerging markets effective protection against excessive volatility Online-Ausg Arora, Vivek B. Sonstige oth Arvanitis, Athanasios V Sonstige oth Faruqee, Hamid Sonstige oth Mancini Griffoli, Tommaso Sonstige oth N'Diaye, Papa Sonstige oth http://elibrary.imf.org/view/IMF006/21608-9781498318204/21608-9781498318204/21608-9781498318204.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Sahay, Ratna Emerging Market Volatility Lessons from The Taper Tantrum |
title | Emerging Market Volatility Lessons from The Taper Tantrum |
title_auth | Emerging Market Volatility Lessons from The Taper Tantrum |
title_exact_search | Emerging Market Volatility Lessons from The Taper Tantrum |
title_exact_search_txtP | Emerging Market Volatility Lessons from The Taper Tantrum |
title_full | Emerging Market Volatility Lessons from The Taper Tantrum Sahay, Ratna |
title_fullStr | Emerging Market Volatility Lessons from The Taper Tantrum Sahay, Ratna |
title_full_unstemmed | Emerging Market Volatility Lessons from The Taper Tantrum Sahay, Ratna |
title_short | Emerging Market Volatility |
title_sort | emerging market volatility lessons from the taper tantrum |
title_sub | Lessons from The Taper Tantrum |
url | http://elibrary.imf.org/view/IMF006/21608-9781498318204/21608-9781498318204/21608-9781498318204.xml |
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