Emerging Markets and the Post-2008 World
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.
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