The Rising Resilience of Emerging Market and Developing Economies

Author/Editor: Abdul Abiad ; John C Bluedorn ; Jaime Guajardo ; Petia Topalova
Publication Date: December 20, 2012
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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.
Series: Working Paper No. 12/300
Subject(s): Emerging markets | Developing countries | Economic growth | Economic recovery

Publication Date: December 20, 2012
ISBN/ISSN: 9781475584851/1018-5941 Format: Paper
Stock No: WPIEA2012300 Pages: 46
US$18.00 (Academic Rate:
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