Emerging Markets During the Crisis

The 2008 economic crisis has offered another look at how emerging-market stocks have behaved relative to developed markets. In the aftermath of the crisis, the authors of this article take a fresh look at emerging markets to explore these questions: Have emerging markets matched growth forecasts? Which segments have performed well? How have emerging markets behaved relative to developed markets? While in the aggregate emerging market stocks were not immune to the crisis, there were some clear differences between emerging and developed markets in the performance of particular sectors and styles. TOPICS:Emerging, financial crises and financial market history, tail risks, performance measurement