HKS Affiliated Authors
Rafik Hariri Professor of the Practice of International Political Economy
Excerpt
Excerpt
The End of the Emerging-Market Party. Ricardo Hausmann, August 30, 2013, Opinion. "Enthusiasm for emerging markets has been evaporating this year, and not just because of the US Federal Reserve’s planned cuts in its large-scale asset purchases. Emerging-market stocks and bonds are down for the year and their economic growth is slowing. To see why, it is useful to understand how we got here. Between 2003 and 2011, GDP in current prices grew by a cumulative 35% in the United States, and by 32%, 36%, and 49% in Great Britain, Japan, and Germany, respectively, all measured in US dollars..." Link