Emerging Market Heterogeneity Insights from Cluster and Taxonomy Analysis

This paper studies growth patterns in Emerging Market Economies (EMs) from the perspective on clusters and taxonomies. First, it documents developments over the past five decades in EMs and uses a cluster analysis to better understand convergence and the investment-growth nexus. Second, it looks at...

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Bibliographic Details
Main Author: Zhang, Zhongxia
Other Authors: Gao, Yuan
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2015
Series:IMF Working Papers
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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520 |a This paper studies growth patterns in Emerging Market Economies (EMs) from the perspective on clusters and taxonomies. First, it documents developments over the past five decades in EMs and uses a cluster analysis to better understand convergence and the investment-growth nexus. Second, it looks at the performance of EMs since 2000 and develops a taxonomy to classify countries according to their factor endowments as well as their real and financial external linkages. The taxonomy offers insights on growth dynamics pre and post the global financial crisis. Results highlight the high degree of heterogeneity in EMs and the need for more granular and targeted near and long-term policy advice