emerging economies

Short-term foreign currency borrowing is largely used for carry trade-like activities rather than financing productive investment, underscoring the need to focus on debt maturity and firm heterogeneity when designing policies to manage financial risk...

Valuation changes are crucial for understanding countries’ external positions. We analyse whether emerging market economies benefit from risk-sharing in the international monetary system through the valuation channel.

Domestic and multilateral efforts are both needed to ensure people can benefit from economic growth opportunities

The future may bring political tensions in reconciling economic dreams with the economic reality of slower growth