Lessons of the Crisis for Emerging Markets

Barry Eichengreen

No 179, ADBI Working Papers from Asian Development Bank Institute

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 (search for similar items in EconPapers)
JEL-codes: F00 F30 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2009-12-15
New Economics Papers: this item is included in nep-ban, nep-cba, nep-fmk, nep-ifn, nep-mon and nep-sea
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Journal Article: Lessons of the crisis for emerging markets (2010)
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