IDEAS home Printed from https://ideas.repec.org/p/ris/adbiwp/0179.html
   My bibliography  Save this paper

Lessons of the Crisis for Emerging Markets

Author

Listed:
  • Eichengreen, Barry

    (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.

Suggested Citation

  • Eichengreen, Barry, 2009. "Lessons of the Crisis for Emerging Markets," ADBI Working Papers 179, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0179
    as

    Download full text from publisher

    File URL: http://www.adbi.org/working-paper/2009/12/15/3419.lessons.crisis.emerging.markets/
    File Function: Full text
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Alejandro Jara & Ramon Moreno & Camilo E Tovar, 2009. "The global crisis and Latin America: financial impact and policy responses," BIS Quarterly Review, Bank for International Settlements, June.
    2. Stephany Griffith-Jones & José Antonio Ocampo, 2009. "The Financial Crisis and Its Impact on Developing Countries," Working Papers 53, International Policy Centre for Inclusive Growth.
    3. Carroll, Christopher D. & Slacalek, Jirka, 2009. "The American consumer: Reforming, or just resting?," CFS Working Paper Series 2009/12, Center for Financial Studies (CFS).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cantú, Carlos & Gondo, Rocio & Martínez, Berenice, 2019. "Reserve requirements as a financial stability instrument," Working Papers 2019-014, Banco Central de Reserva del Perú.
    2. Leonardo Gambacorta & Andrés Murcia, 2019. "The impact of macroprudential policies and their interaction with monetary policy: an empirical analysis using credit registry data," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Are post-crisis statistical initiatives completed?, volume 49, Bank for International Settlements.
    3. Luca Tiberti & Ismaël Fofana & John Cockburn & Lacina Balma & Samuel Kaboré, 2010. "Simulation des effets de la crise économique et des politiques de reponse sur les enfants en Afrique de l'Ouest et du Centre: le cas du Burkina Faso," Papers inwopa599, Innocenti Working Papers.
    4. Yilmaz Akyüz, 2012. "The Boom in Capital Flows to Developing Contries : Will It Go Bust Again?," Ekonomi-tek - International Economics Journal, Turkish Economic Association, vol. 1(1), pages 63-96, January.
    5. Gambacorta, Leonardo & Murcia, Andres, 2017. "The impact of macroprudential policies and their interaction with monetary policy: an empirical analysis using credit registry," CEPR Discussion Papers 12027, C.E.P.R. Discussion Papers.
    6. Tulus T. H. Tambunan, 2010. "The rise of non-tariff protectionsiam and recovery from the global economic crisis-the Indonesian story," STUDIES IN TRADE AND INVESTMENT, in: Mia Mikic (ed.), Rising Non-Tariff Protectionism and Crisis Recovery, chapter 4, pages 73-92, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    7. Kacef, Osvaldo, 2009. "Crisis y políticas públicas en América Latina y el Caribe," Documentos de Proyectos 4164, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    8. Luca Tiberti & John Cockburn & Ismaël Fofana, 2010. "Simulating the Impact of the Global Economic Crisis and Policy Responses on Children in West and Central Africa," Papers inwopa596, Innocenti Working Papers.
    9. Robert N McCauley & Patrick McGuire, 2009. "Dollar appreciation in 2008: safe haven, carry trades, dollar shortage and overhedging," BIS Quarterly Review, Bank for International Settlements, December.
    10. -, 2009. "Macroeconomic policies in times of crisis: options and perspectives," Documentos de Proyectos 3665, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    11. Tulus T. H. Tambunan, 2019. "The impact of the economic crisis on micro, small, and medium enterprises and their crisis mitigation measures in Southeast Asia with reference to Indonesia," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 6(1), pages 19-39, January.
    12. Radhika Lal & Steve Miller & Maikel Lieuw-Kie-Song & Daniel Kostzer, 2010. "Public Works and Employment Programmes: Towards a Long-Term Development Approach," Working Papers 66, International Policy Centre for Inclusive Growth.
    13. Fatum, Rasmus & Yetman, James, 2020. "Accumulation of foreign currency reserves and risk-taking," Journal of International Money and Finance, Elsevier, vol. 102(C).
    14. Nicola Cetorelli & Linda S Goldberg, 2011. "Global Banks and International Shock Transmission: Evidence from the Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(1), pages 41-76, April.
    15. Hoffmann, Andreas & Löffler, Axel, 2014. "Low interest rate policy and the use of reserve requirements in emerging markets," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(3), pages 307-314.
    16. Rasmus Fatum & James Yetman, 2018. "Does the accumulation of foreign currency reserves affect risk-taking? An event study approach," BIS Papers chapters, in: Bank for International Settlements (ed.), The price, real and financial effects of exchange rates, volume 96, pages 41-52, Bank for International Settlements.
    17. Bernhardt, Thomas, 2014. "How promising is South-South trade as a contributor to economic development in Asia and South America? Insights from estimating income elasticities of import demand," MPRA Paper 56413, University Library of Munich, Germany.
    18. Martinez, Lisana B. & Terceño, Antonio & Teruel, Mercedes, 2013. "Sovereign bond spreads determinants in Latin American countries: Before and during the XXI financial crisis," Emerging Markets Review, Elsevier, vol. 17(C), pages 60-75.
    19. Botta, Alberto & Porcile, Gabriel & Spinola, Danilo & Yajima, Giuliano Toshiro, 2023. "Financial integration, productive development and fiscal policy space in developing countries," Structural Change and Economic Dynamics, Elsevier, vol. 66(C), pages 175-188.
    20. Ahmed Khalid, 2012. "Cost Consequences to the Economy and Finance," Chapters, in: Mohamed Ariff & John H. Farrar & Ahmed M. Khalid (ed.), Regulatory Failure and the Global Financial Crisis, chapter 7, Edward Elgar Publishing.

    More about this item

    Keywords

    global financial crisis; lessons; exchange rate policy; financial architecture;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F30 - International Economics - - International Finance - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:adbiwp:0179. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ADB Institute (email available below). General contact details of provider: https://edirc.repec.org/data/adbinjp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.