BoJ paper finds emerging markets struggled to protect themselves from QE
Emerging markets 'are not innocent bystanders'
Emerging markets' attempts to shield themselves from the effects of quantitative easing (QE) by the US were largely ineffectual, and may have worsened the pro-cyclical impact, according to a discussion paper published by the Bank of Japan (BoJ) on July 28.
On the International Spillovers of US Quantitative Easing, by Marcel Fratzscher, Marco Lo Duca and Roland Straub, finds, in line with many other studies, that emerging markets suffered pro-cyclical impacts from volatile capital flows driven in
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