Last week Gavyn Davies reported in FT.com a summary of his debate on emerging markets with three prominent economists: Maurice Obstfeld (USC-Berkeley), Alan M. Taylor (UC-Davis), and Dominic Wilson (Co-Head of Global Economics, Goldman Sachs) – the “panel”. In summary (read full transcript here), the panel finds much vulnerability in the emerging markets (EMs). What’s more, any significant upset in the EMs might backfire into developed markets (DMs) instabilities via external sector and commodity prices imbalances. Continue reading
Monthly Archives: March 2014
BRIC[S] panel at Columbia University
Sorting through “emerging” financial markets
Wrapping up this year’s Eastern Economic Association Conference, where I organized and chaired a session entitled ‘The perils of financial deepening and post-crisis development in emerging markets‘.
The panel addressed current opportunities and risks to [what we’ve become accustomed to refer to as] emerging economies given their increased involvement in the international capital markets & commodity trade, sovereign borrowing, and exchange rate stabilization strategies in the light of economic uncertainty exacerbated by sporadic capital flows, migration, trade imbalance, and a host of other factors, climate change included. Continue reading