Unexpected Outcomes How Emerging Markets Survived the Global PAPERBACK

Bloomsbury Publishing Plc

Unexpected OutcomesHow Emerging Economies Survived the Global Financial Crisis\nAuthor(s): Carol Wise, Leslie Elliott Armijo, Saori N. Katada\nFormat: Paperback\nPublisher: Bloomsbury Publishing Plc, United States\nImprint: Brookings Institution\nISBN-13: 9780815724766, 978-0815724766\nSynopsis\nThis volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in [tel]. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why?\nThis volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest wi.