14 minutes ago
Emerging Market Channel: Latest Posts
-
Asia
Does Corruption Limit China’s Growth, or Pose a Threat to its Existence?
Summary: Critics of China often cite its high level of corruption as a limiting factor to its growth, or a possible cause of its fall — or even disintegration. Like so many of American’s views about China, it’s false. Probably a way to diffuse awareness that a powerful rival has emerged on the world stage. [...]
-
Emerging Markets
Mexico: Five Key Political Risks in 2013
The next year promises to be a challenging year in terms of politics and security. On the heels of a contentious presidential election and soaring levels of criminal activity, the country’s political transition opens the possibility for a new era of reforms and policy changes that could drastically improve the country’s outlook. At the same [...]
-
Emerging Markets
Financial Spillovers and Deleveraging: The Case of Romania
This blog looks at foreign bank deleveraging and examines how Romania’s asset prices have been impacted from European crisis spillovers.[1] Foreign bank deleveraging has been orderly and moderate so far in Romania unlike in some peer countries. Findings from the spillover analysis suggests that Romania’s asset markets tend to co-move more closely with its regional [...]
-
The Kapali Carsi
The deadliest of the seven deadly sins: The role of “pride” in Turkish economic policymaking
While vanity is definitely my favorite sin, I would argue that pride is the deadliest of the seven deadly sins. After all, it caused Lucifer to fall from Heaven. An ardent Turkey researcher shared with me, over lunch during my London trip in the summer of 2011, that government officials were falling under the spell [...]
-
Asia
The East Asian Miracle 2.0
Almost 20 years ago, the World Bank released a groundbreaking report – The East Asian Miracle – that called worldwide attention to the economic success of eight economies in the region, leading to a discussion on the extent to which policies followed by them could be replicated. In a recent Economic Premise – “Avoiding Middle-Income [...]
-
Asia
Is There an Asian RMB Bloc?
In the past two weeks we have been treated with a mostly positive but nonetheless mixed bag of economic data from China. There has been good news, bad news, good news with worrying underlying trends, and bad news with silver linings. Analysts have announced that things are getting worse and that things are getting better. [...]
-
The Kapali Carsi
The Governor’s Speech: Central Bank of Turkey targets the real exhange rate
Well, not quite… But speaking to the newly minted Turkish finance portal AA Finans on Monday (videos naturally in Turkish), Central Bank of Turkey Governor Erdem Basci said that if the real effective exchange rate (REER) ends up within the 120-125 range, the Central Bank would ease its monetary policy only gradually, whereas 130 would [...]
-
Emerging Markets
Oil Prices Rise After Israeli Airstrikes Kill Leader of Hamas’s Militant Wing
Oil prices have risen following Israeli attacks in the Gaza strip which killed Ahmed al-Jabari, the leader of Hamas’s militant wing. Traders fear that the whole Middle East is reaching its limit and that something is about to blow which could seriously impact on the global oil market. After more than 115 rockets have been [...]
-
RGE Analysts
QE3: Buoying the GCC
The Economonitor’s QE3 week is perfect timing as we’ve been thinking a lot about the effects of the latest bouts of global monetary stimulus on the Middle East and North Africa – as summarized in part of our omnibus MENA quarterly presentation. We argue there that even though EMs and to a lesser extent frontier [...]
-
The Kapali Carsi
Quantitative easing III: Boon or bane for Turkey?
As you may (or may not) know, Economonitor is running a special topic this week: “Is QE3 harmful or beneficial to other countries?”. Therefore, as their in-house Turkey blogger, I decided to write about the same topic in my Monday Hurriyet Daily News (HDN) column- hitting one bird with two stones, as we Turks say:)… [...]
