Emerging Markets and the Post-2008 World

  • Aleksandr V. Gevorkyan
  • Otaviano Canuto


Emerging markets is a buzzword in financial economics. However, just exactly what is included in the definition often varies depending on the selection criteria applied. For the purposes of this volume the definition is purposely left broad, with no ambition to develop a generic emerging economy profile. Instead, this study includes contributions on economies conventionally identified as emerging (e.g., most of Latin America and some of Eastern Europe) and those with a developing-country profile (e.g., parts of Sub-Saharan Africa and Asia). This chapter goes over some recent macroeconomic trends in emerging markets. A “redefined fundamental uncertainty” is suggested as a peculiar characteristic of the post-crisis global financial economy. Some general risks, opportunities, and future outlook across the many country sub-groups paving the way to and introducing subsequent chapters are discussed as well. The chapter also introduces the volume with a brief synopsis of each chapter contribution.


Exchange Rate Foreign Direct Investment Gross Domestic Product Advanced Economy Cash Holding 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


  1. Canuto, O. 2010. Recoupling or Switchover? Developing Countries in the Global Economy. In The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World, ed. O. Canuto and M. Giugale, 31–49. Washington, D.C.: The World Bank.CrossRefGoogle Scholar
  2. Canuto, O. 2011. Risky Growth Engines. Project Syndicate. Accessed 15 October 2015.
  3. Canuto, O. 2013a. Currency War and Peace. Project Syndicate. Accessed 5 November 2015.
  4. Canuto, O. 2013b. Emerging Markets and the Unwinding of Quantitative Easing. Capital Finance International, Autumn. Accessed 5 November 2015.
  5. Canuto, O. 2014. China and Emerging Markets: Riding Wild Horses. HuffingtonPost the Blog. Accessed 5 October 2015.
  6. Canuto, O. 2015. The High Density of Brazilian Production Chains. HuffingtonPost the Blog. Accessed 1 October 2015.
  7. Gevorkyan, A.V. 2011. Innovative Fiscal Policy and Economic Development in Transition Economies. Oxford: Routledge.Google Scholar
  8. Gevorkyan, A.V. 2015. The Legends of the Caucasus: Economic Transformation of Armenia and Georgia. International Business Review 24(6): 1009–1024.CrossRefGoogle Scholar
  9. Gevorkyan, A.V., and A.V. Gevorkyan. 2012a. Redefined Fundamental Uncertainty, Fiscal Rules, Fiscal Net, Fiscal Sustainability and Emerging Markets Scenarios. Aestimatio, the IEB International Journal of Finance 5: 126–161.Google Scholar
  10. Gevorkyan, A.V., and A. Gevorkyan. 2012b. Derivatives, Commodities, and Social Costs: Exploring Correlation in Economic Uncertainty. In Derivative Securities Pricing and Modelling, Contemporary Studies in Economic and Financial Analysis, Vol. 94, ed. J.A. Batten and N. Wagner, 47–70. Bradford: Emerald Group Ltd.CrossRefGoogle Scholar
  11. Gevorkyan, A.V. and I.H. Kvangraven. Forthcoming 2016. Assessing Recent Determinants of Borrowing Costs in Sub-Saharan Africa. Review of Development Economics. Google Scholar
  12. Hausmann, R. 2013. The End of the Emerging-Market Party. Project Syndicate 2013. Accessed 5 September 2015
  13. Jimenez, G., and J. Saurina. 2006. Credit Cycles, Credit Risk, and Prudential Regulation. International Journal of Central Banking 2: 65–98.Google Scholar
  14. MSCI. MSCI Emerging Markets Index. Accessed 1 August 2015.
  15. World Bank World Development Indicators. World Development Indicators—Online Database. Accessed 1 October 2015.

Copyright information

© The Editor(s) (if applicable) and The Author(s) 2016

Authors and Affiliations

  • Aleksandr V. Gevorkyan
    • 1
  • Otaviano Canuto
    • 2
  1. 1.Assistant Professor of Economics, Dept. of Economics & Finance at Peter J. Tobin College of BusinessSt. John’s University, QueensNYUSA
  2. 2.Executive Director at the International Monetary FundWashingtonDCUSA

Personalised recommendations