Challenges in the New Global Macroeconomic and Financial Environment
This paper presents our forward-looking conjecture of the global macroeconomic and financial environment over the next five years. Among the key unfolding developments we look at are advanced economies' monetary and fiscal policy exits and the remaining global imbalances. According to our analysis, policymakers in emerging market economies should be prepared for a world with slower growth, higher inflation, declining USD trend, and higher costs of capital. The policy challenges identified in this paper include the export-led growth model, public debt management, monetary policy communications, foreign exchange reserve accumulation, and financial markets development.
|Date of creation:||Mar 2009|
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- repec:bth:wpaper:2005-01 is not listed on IDEAS
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- M S Mohanty & Philip Turner, 2006. "Foreign exchange reserve accumulation in emerging markets: what are the domestic implications?," BIS Quarterly Review, Bank for International Settlements, September. Full references (including those not matched with items on IDEAS)
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