Lessons of the Crisis for Emerging Markets
15 Pages Posted: 19 Jun 2010
Date Written: December 15, 2009
Abstract
This paper attempts to draw out the implication of the financial crisis for emerging markets. The most important implications will center on financial markets, where there will be less reliance on portfolio capital flows to finance investment and some deglobalization of banking so that the domain of bank operations more closely coincides with the domain of regulation. By contrast, the implications for other dimensions of globalization and for the structure of the international monetary system will be more limited.
Keywords: Global financial crisis, lessons, exchange rate policy, financial architecture
JEL Classification: F0, F3
Suggested Citation: Suggested Citation
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