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Riding global financial waves : the economic impact of global financial shocks on emerging market economies
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| 자료유형 | 단행본 |
|---|---|
| 서명/저자사항 | Riding global financial waves : the economic impact of global financial shocks on emerging market economies/ prepared by Gustavo Adler and Camilo E. Tovar. |
| 개인저자 | Adler, Gustavo,1974- author. Tovar Mora, Camilo Ernesto,author, |
| 단체저자명 | International Monetary Fund. Western Hemisphere Department. |
| 발행사항 | [Washington, D.C.]: International Monetary Fund, 2012. |
| 형태사항 | 1 online resource (26 pages). |
| 총서사항 | IMF working paper;WP/12/188 |
| ISBN | 9781475566789 1475566786 |
| 일반주기 |
"July 2012."
At head of title: Western Hemisphere Department. |
| 서지주기 | Includes bibliographical references. |
| 요약 | 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. |
| 주제명(지명) | Developing countries. --fast |
| 일반주제명 | Financial crises --Developing countries --Econometric models. Capital movements --Developing countries --Econometric models. Foreign exchange administration --Developing countries --Econometric models. BUSINESS & ECONOMICS --Finance. Capital movements --Econometric models. Financial crises --Econometric models. Foreign exchange administration --Econometric models. |
| 언어 | 영어 |
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