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Curated by Project Syndicate

Submerging Markets?

43 commentaries

Emerging markets, until recently the main engines of world economic growth, are losing momentum – with serious implications for global recovery. How have commodity prices, domestic politics, and advanced-country monetary policy undermined emerging-market growth, and what do recent developments mean for investors, consumers, and policymakers worldwide?

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  1. Containing Competitive Monetary Easing

    Containing Competitive Monetary Easing

    Apr 28, 2014 Raghuram G. Rajan calls for monetary-policy coordination among major central banks.

  2. The Future of Economic Progress

    The Future of Economic Progress

    Apr 15, 2014 Kemal Derviş homes in on the key questions surrounding the nature and measurement of contemporary growth.

  3. The Growing Divide Within Developing Economies

    The Growing Divide Within Developing Economies

    Apr 11, 2014 Dani Rodrik examines why informal and traditional sectors are expanding, rather than shrinking.

  4. Losing Interest

    Losing Interest

    Apr 11, 2014 Barry Eichengreen examines competing explanations for three decades of decline in real interest rates.

  5. Sentiment and Sensibility in Emerging Markets

    Sentiment and Sensibility in Emerging Markets

    Apr 9, 2014 Laura Tyson says that differentiation of country and sector risk will determine future investment flows.

  6. The Two Mexicos
    dr3326c.jpg Dean Rohrer

    The Two Mexicos

    Apr 1, 2014 Jaana Remes & Luis Rubio take issue with flattering headlines heralding a new emerging-market success story.

Our Pick

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  1. pisaniferry143_FABRICE COFFRINIAFP via Getty Images_johnkerrychina Fabrice Coffrini/AFP via Getty Images
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    Can “Cooperative Rivalry” Work?

    Jean Pisani-Ferry worries that America and China will be unable to find common ground on preserving the global commons.
  2. rajan82_BRENDAN SMIALOWSKIPOOLAFP via Getty Images_jeromepowell Brendan Smialowski/Pool/AFP via Getty Images
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    The Fed’s Role in the Bank Failures

    Raghuram G. Rajan & Viral V. Acharya

    There are four reasons to worry that the latest banking crisis could be systemic. For many years, periodic bouts of quantitative easing have expanded bank balance sheets and stuffed them with more uninsured deposits, making the banks increasingly vulnerable to changes in monetary policy and financial conditions.

     show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits.
  3. velasco135_Nancy LaneMediaNews GroupBoston Herald via Getty Images_bank run Nancy Lane/MediaNews Group/Boston Herald via Getty Images
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    Policymakers Keep Solving the Wrong Banking Problem

    Andrés Velasco

    When a bank fails, the first response by policymakers and the public is to blame risk-loving speculators, greedy investors, or regulators asleep at the wheel. But quenching our thirst for moral adjudication is a poor basis for policy, because the truth is both simpler and more troubling.

     argues that recent market turmoil has revealed that the sector’s main vulnerability is unavoidable.
  4. ito25_Chip SomodevillaGetty Images_yellen Chip Somodevilla/Getty Images
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    An Insolvency Iceberg?

    Takatoshi Ito considers the risk that other banks will experience liquidity problems as interest rates continue to rise.
  5. skidelsky185_Wiktor SzymanowiczAnadolu Agency via Getty Images_jeremyhunt Wiktor Szymanowicz/Anadolu Agency via Getty Images
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    Can Governments Still Steer the Economy?

    Robert Skidelsky explains why international finance and geopolitics make it harder to influence major performance indicators.
  6. sinn109_ DANIEL ROLANDAFP via Getty Images_financial crisis DANIEL ROLAND/AFP via Getty Images
    3

    Accounting for Casino Capitalism

    Hans-Werner Sinn draws parallels between recent bank collapses and the late-nineteenth-century “founders’ crash.”
  7. zadek25_ FABRICE COFFRINIAFP via Getty Images_creditsuisseUBS Fabrice Coffrini/AFP via Getty Images
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    Who Should Be Bailed Out Next?

    Simon Zadek urges rich-country governments to aid debt-distressed poor countries as urgently as they have their failing banks.
  8. callegari1_Getty Images_crowd population Getty Images
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    The Population Boon

    Beniamino Callegari & Per Espen Stoknes correct popular myths about the threat of demographic growth to sustainable development.
  9. songwe8_NIPAH DENNISAFP via Getty Images_ghana NIPAH DENNIS/AFP via Getty Images
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    Where Is the Global South’s Rescue Brigade?

    Vera Songwe decries the unequal responses to liquidity crises in Silicon Valley compared to the developing world.

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