Journal Article10.2139/ssrn.2450455
Decoupling: Myth or Reality?
Thomas Bernhardt
- 14 Sep 2010
2
TL;DR: Decoupling is a myth. Crisis transmission and effects in emerging markets are closely linked to the industrialized economies in the North.
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Abstract: When, in the mid-2000s, large parts of the global South experienced an impressive economic boom, the idea that a number of emerging market economies were “decoupling” from the industrialized economies in the North gained considerable prominence. The financial and economic crisis that originated in the US and the global recession that it entailed, however, put this idea into question. The present paper analyzes different channels of crisis transmission and crisis effects in emerging markets (and the BRIC countries in particular) to demonstrate that decoupling is a myth rather than reality.
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Citations
Latin America and the global financial crisis
TL;DR: The region's economies should therefore seriously think again in the domestic market, with regional integration and active production sector policies as engines of growth as mentioned in this paper, with the decision to absorb large capital inflows during the boom as foreign exchange reserves is one of the major sources of the increased room to manoeuvre.
The costs of ‘coupling’: the global crisis and the Indian economy
Jayati Ghosh,C. P. Chandrasekhar +1 more
TL;DR: The view that the Indian economy would be less adversely affected by the global economic crisis because of limited integration and other inherent strengths has proved to be wrong as discussed by the authors, as the economic boom in India that preceded the current downturn was dependent upon greater global integration in three ways: greater reliance on exports particularly of services; increased dependence on capital inflows, especially of the short-term variety; and the role these played in underpinning a domestic credit-fuelled consumption and investment boom.
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Growth and Policy in Developing Countries: A Structuralist Approach
José Antonio Ocampo,Codrina Rada,Lance Taylor +2 more
- 22 Oct 2009
TL;DR: In this paper, the authors discuss the role that patterns in productivity, production structures, and capital accumulation play in the growth dynamics of developing countries, and the evolution of trade patterns and the effect of the terms of trade on economic performance, especially for countries that depend on commodity exports.
Latin America and the global financial crisis
TL;DR: The region's economies should therefore seriously think again in the domestic market, with regional integration and active production sector policies as engines of growth as mentioned in this paper, with the decision to absorb large capital inflows during the boom as foreign exchange reserves is one of the major sources of the increased room to manoeuvre.
•Posted Content
The financial crisis and its impact on developing countries
TL;DR: In this paper, the authors identify three mechanisms that play a key role in spreading the consequences of the financial crisis to the developing world: remittances, capital flows and trade.
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