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. Some of my earlier work on redefined fundamental uncertainty, as well as, commodity derivatives & exchange rate, and impressive data assembly on emerging markets capital flows by the Institute for International Finance  (see their January 2014 report here) offered initial background for an informed discussion.

Overall, there were four  strong presentations based on empirical and theoretical work: 

Renewable vs. non-renewable resources: financialization, volatilities, emerging markets and global trends, by Arkady Gevorkyan, The New School for Social Research.

The African Sovereign Bond Rush: Risks and Opportunities, by Ingrid Harvold Kvangraven, The New School for Social Research).

Combating the Anti-China Syndrome: Re-examining the Root Causes of Long Run Trade Imbalances, by Isabella Weber (The New School for Social Research).

Currency Options as a Central Bank Risk Management Tool, by Helena Glebocki Keefe and Erick Rengifo, (Fordham University).

Great work by everyone! Additional information available upon request.

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