The Fallout from the Financial Crisis (1) Emerging Markets under Stress
The contagion of the global credit crisis from the industrialised countries to the emerging markets has taken some time to develop. Then, in October 2008, it spread rapidly, afflicting all emerging markets, without any distinction or regard to their so-called "fundamentals". For believers...
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| Format: | eBook |
| Language: | English |
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Paris
OECD Publishing
2008
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| Series: | OECD Development Centre Policy Insights
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| Online Access: | |
| Collection: | OECD Books and Papers - Collection details see MPG.ReNa |
| Summary: | The contagion of the global credit crisis from the industrialised countries to the emerging markets has taken some time to develop. Then, in October 2008, it spread rapidly, afflicting all emerging markets, without any distinction or regard to their so-called "fundamentals". For believers in "decoupling", the high growth rates, massive foreign exchange (FX) reserves, balanced budgets and rising consumerism in the emerging markets at first reassured investors. It is now clear that the diagnosis of emerging-market policy performance suffered from hyperbole. In the end, all emerging market asset classes were hit: stocks, bonds and currencies |
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| Physical Description: | 2 p. 21 x 29.7cm |