Emerging market economies: Inevitability of volatility and contagion

Dilip K Das ()

Journal of Asset Management, 2003, vol. 4, issue 3, No 4, 199-216

Abstract: Abstract It is often ignored that, in a financially globalised world, the emerging market economies face boom–bust cycles. Global capital inflows tend to inflate real exchange rates, which have several domestic and external problematic influences. At the beginning of the twenty-first century, financial instability and volatility became some of the most significant challenges faced by the emerging market economies. This paper essentially focuses on the downside of financial globalisation. It delves into the rationale behind the financial crashes and contagion effect in the emerging market economies and explores how to return to financial and macroeconomic stability.

Keywords: financial globalisation; macroeconomic instability; contagion; exchange rate (search for similar items in EconPapers)
Date: 2003
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DOI: 10.1057/palgrave.jam.2240103

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