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Tag Archives: emerging economies

The Sound of Gita Gopinath

IMF Chief Economist Gita Gopinath joins Bruegel Director Guntram Wolff to discuss the uneven recovery from the pandemic with a live clubhouse audience. IMF Chief Economist Gita Gopinath joins Bruegel Director Guntram Wolff for this Live recorded session. They were able to discuss the uneven recovery from the pandemic. In the latest World Economic Outlook, the IMF warns that even though the global economy is on firmer ground, recoveries are diverging dangerously across and within countries,...

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Africa’s battle with COVID-19

How can we ensure a worldwide balanced and inclusive recovery from the Covid pandemic? Before the pandemic, Africa was experiencing unprecedented economic growth and poverty reduction. While many economies have faced disruption around the globe, emerging economies face an even tougher challenge because they lack the tools at the disposal of developed countries, whether that be vaccines, macroeconomic liquidity or the ability of the labour market to work from home. The global nature of the...

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Emerging market central banks and quantitative easing: high-risk advice

Central banks in emerging markets with weak currencies should not resort to unorthodox monetary tools such as quantitative easing as a response to the crisis triggered by COVID-19. Preferable alternatives include shifting public spending away from less pressing needs, moderately increasing public debt and falling back on official development assistance. The idea that ‘credible’ emerging-market central banks (EMCBs) could embrace quantitative easing (QE) to tackle the consequences of the...

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Covid-19 and emerging economies: What to expect in the short- and medium-term

This article was originally published in the Observer Research Foundation. As Brazil, Russia, India and Mexico record the fast spread of the Covid-19 contagion, a third wave of the pandemic is reaching the emerging world. As a result, business sentiment has decreased in March and April in the region. What’s more, as emerging economies gradually […] As Brazil, Russia, India and Mexico record the fast spread of the Covid-19 contagion, a third wave of the pandemic is reaching the emerging...

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COVID-19’s shock for emerging economies

COVID-19 is by far the biggest challenge policymakers in emerging economies have had to deal with in recent history. The pandemic is hurting emerging economies in at least three ways: by locking down their populations, damaging their export earnings and deterring foreign capital. Even if the pandemic will fade in the second half of the year, gdp in developing countries, measured at purchasing-power parity, will be 6.6% smaller in 2020 than the IMF had forecast in October. In this episode we...

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COVID-19’s reality shock for external-funding dependent emerging economies

COVID-19 is by far the biggest challenge policymakers in emerging economies have had to deal with in recent history. Beyond the potentially large negative impact on these countries’ fiscal accounts, and the related solvency issues, worsening conditions for these countries’ external funding are a major challenge. COVID-19 has brought to light a reality that had been mostly forgotten in an era of ample dollar liquidity: the excessive dependence of emerging economies on external financing. The...

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El Covid-19 en las economías emergentes

La tercera oleada de la pandemia llega al mundo emergente. ¿Qué esperar a corto y medio plazo?Al ‘shock’ económico inmediato podría seguirle una remodelación en la cadena de valor global. El Covid-19 hizo estragos en la economía china durante el primer trimestre de 2020 y hace lo propio ahora  mismo en Europa y Estados Unidos. Con la primera oleada de la epidemia, mientras se expandía el brote de coronavirus, el PIB de China experimentó una contracción del 6,8%. La enfermedad provocó la...

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Is COVID-19 triggering a new emerging-market crisis?

Emerging economies have received little attention in the economic debate regarding the COVID-19 pandemic, yet the performance of their primary market indicators, chiefly sovereign debt, foreign exchange and equities, indicate a deep deterioration is taking place. Times of crisis often lead to capital flight from emerging markets as investors seek safe haven assets, while the localised effects of the disease and the collapse in the price of certain key commodities have also been damaging. More...

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Deep Focus: Making a success of EU cohesion policy

Bruegel senior fellow Zsolt Darvas talks to Sean Gibson in this Deep Focus podcast about how the EU can improve its cohesion policy, citing the best examples of its implementation and stressing the methodological difficulties in measuring its effectiveness. By: The Sound of Economics Date: June 20, 2019 Topic: European Macroeconomics & Governance Cohesion policy remains a contentious topic in the EU, central as it is to the...

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A European atlas of economic success and failure

Economic growth was diverse across EU regions, yet it is crucial to control for region-specific factors in assessing growth performance. We find that there are rather successful regions in many EU countries, suggesting that the EU can provide a good framework for growth. Yet the worst performers are more concentrated in some countries, suggesting that country-specific factors can play a major role in regional development. Economic growth has been markedly different across EU regions....

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