a new book on emerging markets co-edited by IBEC Associate Editor Aleksandr V. Gevorkyan with Otaviano Canuto Financial Deepening and Post-Crisis Development in Emerging Markets: Current Perils and Future Dawns (Palgrave MacMillan, 2016) has been published.
Synopsis: This collection empirically and conceptually advances our understanding of the intricacies of emerging markets’ financial and macroeconomic development in the post-2008 crisis context. Covering a vast geography and a broad range of economic viewpoints, this study serves as an informed guide in the unchartered waters of fundamental uncertainty as it has been redefined in the post-crisis period. Contributors to the collection go beyond risks-opportunities analyses, looking deeper into the nuanced interpretations of data and economic categories as interplay of developing world characteristics in the context of redefined fundamental uncertainty. Those concerns relate to the issues of small country finance, the industrialization of the developing world, the role of commodity cycles in the global economy, sovereign debt, speculative financial flows and currency pressures, and connections between financial markets and real markets. Compact and comprehensive, this collection offers unique perspectives into contemporary issues of financial deepening and real macroeconomic development in small developing economies that rarely surface in the larger policy and development debates.
Praise: “This book provides an insightful, timely, and fresh perspective on the present and future growth trajectory of emerging markets. The introduction and the case studies vividly show the need to re-calibrate our expectations and understanding: while emerging economies’ prospects were clearly over-hyped in the wake of the crisis, the bleak forecasts that dominate today’s headlines are similarly exaggerated.” Joshua Aizenman, Dockson Chair in Economics and International Relations, University of Southern California, USA
“This collection of theoretical and empirical studies is an essential reference to the new economics of emerging markets in the twenty first century. With its global perspective, the book is a must-read for academic economists, policymakers, students, and economic analysts on evolving macroeconomic methodology, empirical analysis, and the challenges of policymaking in the aftermath of the global economic crisis.” Pierre-Richard Agénor, Hallsworth Professor of International Macroeconomics and Development Economics, University of Manchester, UK
Publisher web: http://www.palgrave.com/us/book/9781137522450#aboutBook