20 October 2007

Emerging market finance in good times and bad: are EME financial crises a thing of the past?

Speech by Mr William R White, Economic Adviser and Head of Monetary and Economic Department of the BIS, at the IIF 25th Anniversary Membership Meeting “Financing conditions for EMEs”, Washington 20 October 2007.

Are crises in emerging market economies a thing of the past? Recent high rates of return on financial assets, resilience to the recent financial turmoil in industrial countries and better “fundamentals” all suggest a positive response to this question.

200ct2007_Emerging market finance in good times and bad.pdf