The World Bank
February 26, 2014
The emerging markets are in turmoil. Stocks and currencies are falling. Global investors are pulling money out of stocks and bonds. Is another crisis looming?
To answer that question, the World Bank in February held a panel discussion led by authors of three books examining lessons learned from financial crises. Mahmoud Mohieldin, World Bank Group president’s special envoy, said the three books can help policy makers examine the current turmoil affecting emerging markets, along with the hypothetical diagnoses proposed by some commentators: distorted asset prices, questionable growth foundations, human behavior, and overborrowing by households and the private sector.