Hidden Bibliographic Details
| Other authors / contributors: | Sahay, Ratna.
International Monetary Fund. Monetary and Capital Markets Department.
International Monetary Fund. Research Department.
International Monetary Fund. Strategy, Policy, and Review Department.
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| ISBN: | 1498361366
9781498361361
1484356004
9781484356005
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| Notes: | "September 2014."
"Monetary and Capital Markets Department, Research Department, Strategy and Policy Review Department"--Page 2 of pdf.
Includes bibliographical references (pages 28-29).
Online resource; title from pdf title page (IMF.org Web site, viewed October 20, 2014).
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| Summary: | Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discussed its plans for tapering unconventional monetary policies, these emerging markets have experienced financial turbulence at the same that their domestic economic activity has slowed. This paper examines their experiences and policy responses and draws broad policy lessons. For emerging markets, good macroeconomic fundamentals matter, and early and decisive measures to strengthen macroeconomic policies and reduce vulnerabilities help dampen market reactions to external shocks. For advanced economies, clear and effective communication about the exit from unconventional monetary policy can and did help later to reduce the risk of excessive market volatility. And for the global community, enhanced global cooperation, including a strong global financial safety net, offers emerging markets effective protection against excessive volatility.--Abstract.
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| Other form: | 1498318207
1498382851
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