Read more about the article QE Tapering as a Wake-up Call for Emerging Markets
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QE Tapering as a Wake-up Call for Emerging Markets

While unconventional monetary policies have been appropriately anti-cyclical in ACs implementing them, they have had inappropriately pro-cyclical consequences on EMs -- boosting credit and demand when most economies among the latter were already heated up, and threatening to accentuate a slowdown where it started to happen.

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