1 “...This paper focuses on the payments system reforms and monetary policy in emerging market economies...”

2 “..., there is increased financial volatility in emerging market economies, and increases in the cost of capital...”

3 “... extent by appreciably weaker domestic demand and slower growth in several key emerging market economies...”

4 “... fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing...”

5 “... macroeconomic risks are building in emerging market economies. In advanced economies, the handoff from public...”

6 “... advanced and emerging market economies...”

7 “... advanced and emerging market economies...”

8 “... policy mix in advanced economies are complicating policymaking in emerging market economies. Chapter 3...”

9 “... crisis in advanced and emerging market economies and evaluates risks, both upside and downside, including...”

10 “... negative surprises to economic activity in a few emerging market economies, notably India, which led to a...”

11 “..., close to end-2011 levels. Growth in a number of major emerging market economies has been lower than...”

12 “... chapters explore the growth rate of potential output across advanced and emerging market economies...”

13 “... sound fundamentals and strong momentum in emerging market economies. Risks to the outlook, however...”

14 “... chapters examine the slowdown in capital flows to emerging market economies since their 2010 peak—its main...”

15 “... is uncertain. Financial market sentiment toward emerging market economies has improved with expectations...”

16 “...)—such as rising trade barriers and a reversal of capital flows to emerging market economies with weaker...”