During the crises of the 1990s, emerging economies usually lacked the policy tools to deal with external shocks that were available to advanced economies. Worldwide turbulent episodes found most emerging economies unable to perform countercyclical policies and, in many cases, their own vulnerabilities and poor institutional frameworks amplified negative external shocks leading to sharper recessions. This paper shows that the 2008-2009 global financial...
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2012/12/01
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Artigo de revista
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83337
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1
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1
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2015/01/12
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Disclosed
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How resilient and countercyclical were emerging economies to the global financial crisis?
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emerging economy
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