IMF Working Papers

The Rising Resilience of Emerging Market and Developing Economies

By Abdul d Abiad, John C Bluedorn, Jaime Guajardo, Petia Topalova

December 20, 2012

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Abdul d Abiad, John C Bluedorn, Jaime Guajardo, and Petia Topalova. The Rising Resilience of Emerging Market and Developing Economies, (USA: International Monetary Fund, 2012) accessed September 18, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Economic performance in many emerging market and developing economies (EMDEs) improved substantially over the past twenty years. The past decade was particularly good—for the first time EMDEs spent more time in expansion and had smaller downturns thanadvanced economies. In this paper we document the history of EMDEs’ resilience over the past sixty years, and investigate what factors have been associated with it. We find that their improved performance in recent years is accounted for by both good policies and a lowerincidence of external and domestic shocks—better policies account for about three-fifths of their improved resilience, while less frequent shocks account for the remainder.

Subject: Balance of payments, Banking crises, Credit booms, Emerging and frontier financial markets, Financial crises, Financial markets, Money, Public debt, Sudden stops

Keywords: Banking crises, Banking crisis, Credit booms, Developing countries, Developing economy, Development, East Africa, Economy group, EMDE resilience, Emerging and frontier financial markets, Emerging market, Emerging markets, Expansion, Fiscal policy, Global, Growth, Inflation targeting, Low-income countries, Middle East, North Africa, Real GDP, Recovery, Sub-Saharan Africa, Sudden stops, Terms of trade, WP

Publication Details

  • Pages:

    46

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2012/300

  • Stock No:

    WPIEA2012300

  • ISBN:

    9781475584851

  • ISSN:

    1018-5941