Impact of the global crisis on financial intermediaries’ activities in emerging market economies
Annotation
Emerging market economies (EMEs) were significantly affected by the global financial crisis. Nevertheless, EMEs displayed remarkable resilience as compared with advanced economies. Since 2009, EMEs have outperformed advanced economies, both in terms of economic growth and in asset price valuations. The publication focuses on several issues: capital flows and cross-border lending; financial intermediation in EMEs during the crisis; the impact of the crisis on local money and debt markets; central bank instruments in response to the crisis.
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