Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries?: A Quantitative Assessment
Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten. Large negative current account balances make some EMEs vulnerable to sudden reversals in capital flows...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2014
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.1110 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten. Large negative current account balances make some EMEs vulnerable to sudden reversals in capital flows while exceptionally rapid credit expansions, as those observed in Brazil, China, Poland and Turkey over the past years, may have raised financial risk. This paper assesses recent developments and vulnerabilities in EMEs and uses macroeconometric model simulations to provide quantitative estimates of spillovers to highincome countries. The results suggest that for each slowdown of 2 percentage points in EMEs, highincome countries' growth could be around ⅔ percentage points lower on average, with around ½ percentage point accounted for by trade. Experience with past EME crises suggests that this could be exacerbated by effects from exchange rates and by financial market turbulence. OECD countries which would be hit hardest include Belgium, Japan and the Netherlands, reflecting mainly strong trade linkages with EMEs. |
| Beschreibung: | 1 Online-Ressource (23 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5jz5m89p82d8-en |
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| indexdate | 2024-11-26T14:56:03Z |
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| spelling | Ollivaud, Patrice VerfasserIn aut Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? A Quantitative Assessment Patrice, Ollivaud, Elena, Rusticelli and Cyrille, Schwellnus = Quelles retombées d'un ralentissement dans les pays émergents sur les pays à haut revenu ? : Une évaluation quantitative / Patrice, Ollivaud, Elena, Rusticelli et Cyrille, Schwellnus Quelles retombées d'un ralentissement dans les pays émergents sur les pays à haut revenu ? Paris OECD Publishing 2014 1 Online-Ressource (23 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1110 Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten. Large negative current account balances make some EMEs vulnerable to sudden reversals in capital flows while exceptionally rapid credit expansions, as those observed in Brazil, China, Poland and Turkey over the past years, may have raised financial risk. This paper assesses recent developments and vulnerabilities in EMEs and uses macroeconometric model simulations to provide quantitative estimates of spillovers to highincome countries. The results suggest that for each slowdown of 2 percentage points in EMEs, highincome countries' growth could be around ⅔ percentage points lower on average, with around ½ percentage point accounted for by trade. Experience with past EME crises suggests that this could be exacerbated by effects from exchange rates and by financial market turbulence. OECD countries which would be hit hardest include Belgium, Japan and the Netherlands, reflecting mainly strong trade linkages with EMEs. Economics Rusticelli, Elena MitwirkendeR ctb Schwellnus, Cyrille MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5jz5m89p82d8-en Volltext |
| spellingShingle | Ollivaud, Patrice Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? A Quantitative Assessment Economics |
| title | Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? A Quantitative Assessment |
| title_alt | Quelles retombées d'un ralentissement dans les pays émergents sur les pays à haut revenu ? |
| title_auth | Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? A Quantitative Assessment |
| title_exact_search | Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? A Quantitative Assessment |
| title_full | Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? A Quantitative Assessment Patrice, Ollivaud, Elena, Rusticelli and Cyrille, Schwellnus = Quelles retombées d'un ralentissement dans les pays émergents sur les pays à haut revenu ? : Une évaluation quantitative / Patrice, Ollivaud, Elena, Rusticelli et Cyrille, Schwellnus |
| title_fullStr | Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? A Quantitative Assessment Patrice, Ollivaud, Elena, Rusticelli and Cyrille, Schwellnus = Quelles retombées d'un ralentissement dans les pays émergents sur les pays à haut revenu ? : Une évaluation quantitative / Patrice, Ollivaud, Elena, Rusticelli et Cyrille, Schwellnus |
| title_full_unstemmed | Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? A Quantitative Assessment Patrice, Ollivaud, Elena, Rusticelli and Cyrille, Schwellnus = Quelles retombées d'un ralentissement dans les pays émergents sur les pays à haut revenu ? : Une évaluation quantitative / Patrice, Ollivaud, Elena, Rusticelli et Cyrille, Schwellnus |
| title_short | Would a Growth Slowdown in Emerging Markets Spill Over to High-income Countries? |
| title_sort | would a growth slowdown in emerging markets spill over to high income countries a quantitative assessment |
| title_sub | A Quantitative Assessment |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5jz5m89p82d8-en |
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