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Resilience of emerging market economies to global financial conditions

Author

Listed:
  • Turalay Kenc
  • Fatma Pinar Erdem
  • Ibrahim Unalmis

Abstract

With lessons learned from previous episodes as well as substantial improvements in economic policies and fundamentals over the years emerging market economies (EMEs) on average are better positioned to withstand financial turbulences, both now and in the near future, than in the past. Since their respective last financial crises most EMEs have been implementing more prudent policies, made stronger their governance frameworks and created financial safety nets as a buffer against adverse shocks. As a result, they were able to strengthen their stock and flow balances and policy frameworks, deepen local capital markets, and diversify their production and exports together with stronger global trade and financial linkages.

Suggested Citation

  • Turalay Kenc & Fatma Pinar Erdem & Ibrahim Unalmis, 2016. "Resilience of emerging market economies to global financial conditions," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 16(1), pages 1-6.
    • Handle: RePEc:tcb:cebare:v:16:y:2016:i:1:p:1-6
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    Citations

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    Cited by:

    1. K.S.Reddy, 2019. "Pot the ball? Sovereign wealth funds’ outward FDI in times of global financial market turbulence: A yield institutions-based view," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 19(4), pages 129-139.
    2. Sri Andaiyani & Telisa Aulia Falianty, 2017. "Asean Credit Growth And Asset Price Response To Global Financial Cycle," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 20(2), pages 203-228, October.
    3. Begüm Yurteri Kösedağlı & A. Özlem Önder, 2021. "Determinants of financial stress in emerging market economies: Are spatial effects important?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4653-4669, July.
    4. Caporale, Guglielmo Maria & You, Kefei & Chen, Lei, 2019. "Global and regional stock market integration in Asia: A panel convergence approach," International Review of Financial Analysis, Elsevier, vol. 65(C).

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