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Tag Archives: emerging economies

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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How to improve European Union cohesion policy for the next decade

This policy contribution investigates the performance of the design, implementation and effectiveness of cohesion policy, the most evaluated EU tool for promoting economic convergence. By analysing the effects of cohesion policy on economic growth through reviewing literature, conducting empirical research by comparing regions, as well as considering attitudes and expectations collected through interviewing stakeholders, the authors provide reform recommendations. The academic...

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Can emerging markets be a source of global troubles again?

According to popular perception, emerging-market economies have not experienced serious macroeconomic and financial turbulence since the beginning of this century. This perception was not entirely correct because it disregarded spill-over effects of the global financial crises of 2008–2009, the consequences of the decline of oil and other commodity prices in 2014–2016, economic and financial troubles caused by violent conflicts and regional political instability. After two turbulent...

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Can the emerging economic powers govern the globe?

Can a G7 dominated by developing nations provide the impulse to global governance as did the old G7? The answer is no. What a difference ten years can make. It was nearly ten years ago when, in a paper written with Benn Stancil and titled “The World Order in 2050,” he and I predicted that by 2030 — in 11 years from now — five of the seven largest economies of the world would be drawn from the ranks of developing countries as defined by the World Bank at the time of our writing. As we...

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