IMF paper finds changing resilience of emerging markets to financial shocks

IMF headquarters in Washington DC

A working paper published by the International Monetary Fund (IMF) in July examines changes in financial resilience in emerging markets, with some regions improving while others worsen.

The authors, Gustavo Adler and Camilo Tovar, analyse data from 40 emerging markets and nine small advanced economies to assess the impact of seven episodes of global financial stress. The paper finds that Latin America and Asia have increased resilience to shocks since 1990, due mainly to "marked improvements" in

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