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Led by a set of large and dynamic countries--including Brazil, China, India, and Russia--emerging market economies have achieved a dominant economic presence in the world. However, the financial crisis of 2007-09 and the worldwide recession that followed cast a pall over the notion that EMEs had become self-reliant and decoupled from demand conditions in and financial flows from advanced countries.
In a book talk at Mann Library on March 2, 2011, professor of trade policy Eswar Prasad presented highlights from his newest book Emerging Markets: Resilience and Growth amid Global Turmoil, co-authored with M. Ayhan Kose, to assess the resilience of EME's, identify factors for why some of these economies have fared better than others, and offer lessons for the general question of durable and sustainable growth in the 21st century global economy.