The Emerging Economies and the Great Recession

  • Ahmad Seyf
Chapter
Part of the International Papers in Political Economy Series book series (IPPE)

Abstract

This chapter examines the impact of the recent global crisis on emerging economies and draws a number of policy conclusions. It shows that the impact of the crisis was more pronounced in countries that had initial weaker fundamentals and greater openness to global financial and trade links. It is also revealed that while emerging economies had exhibited some resilience through the early stages of the financial turmoil, they have been hit hard since the mid-2008. While this is partly explained by the collapse in world trade and the sharp drop in commodity prices, this will not tell the full story. Misguided policies in the major economies of the world, especially the USA, produced a dangerous situation in some of the emerging economies, leading to the creation of bubbles. This chapter investigates the transmission mechanisms that seem to be in operation in this regard; and will conclude by offering policy recommendations to the emerging economies to reduce their exposure to external vulnerabilities.

Keywords

Global crisis Emerging markets Bubbles Neoliberalism Accumulation 

JEL Classifications

E12 E24 E44 F02 F33 F42 
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Copyright information

© Ahmad Seyf 2016

Authors and Affiliations

  • Ahmad Seyf
    • 1
  1. 1.Regent’s UniversityLondonUK

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