Emerging Market Volatility: Lessons from The Taper Tantrum

Sahay, Ratna; Arora, Vivek B.; Arvanitis, Athanasios; Faruqee, Hamid; N’Diaye, Papa; Griffoli, Tommaso Mancini

doi:10.5089/9781498318204.006

Cited by 92 publications

(72 citation statements)

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“…These include, most importantly, exchange rate flexibility, targeted monetary and prudential measures to ensure market functioning, and policies aimed at restoring confidence ( Figure 23). As discussed earlier, many of these measures appeared to help countries effectively respond to the taper tantrum (Sahay et al 2014, World Bank 2014a.…”

Section: F Priorities If Risks Materializementioning

confidence: 99%

“…Over time, greater country differentiation emerged as capital flows returned to some countries but not to others (Sahay et al, 2014;Lavigne, Sarker, and Vasishtha 2014).…”

Section:  Initial Impact Versus Longer-term Impactmentioning

confidence: 99%

“…In a number of countries, the impact of the taper tantrum was mitigated by proactive policy responses (Sahay et al 2014). Some countries-particularly those most affected by the taper tantrum, such as Brazil, India, Indonesia, South Africa, and Turkey-hiked policy interest rates.…”

mentioning

confidence: 99%

“…If risks materialize, coordination could help EFE countries mitigate them and avoid spillbacks to advanced countries (Sahay et al 2014). Policy coordination could range from heightened efforts by advanced-country central banks to engage in clear and effective communication to the internalization by central banks of the spillover effects of their policies, although the latter may be difficult to operationalize.…”

mentioning

confidence: 99%

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The Coming US Interest Rate Tightening Cycle: Smooth Sailing or Stormy Waters?

et al. 2015

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Section: F Priorities If Risks Materializementioning

confidence: 99%

“…Over time, greater country differentiation emerged as capital flows returned to some countries but not to others (Sahay et al, 2014;Lavigne, Sarker, and Vasishtha 2014).…”

Section:  Initial Impact Versus Longer-term Impactmentioning

confidence: 99%

mentioning

confidence: 99%

mentioning

confidence: 99%

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The Coming US Interest Rate Tightening Cycle: Smooth Sailing or Stormy Waters?

et al. 2015

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“…LITERATURE REVIEW Using event analysis, Sahay et al (2014) found that movements in asset prices and capital flows were strongly associated with announcements by the Federal Reserve. Their study indicates that initial announcements affected all economies indiscriminately, but over time the impact varied across economies depending on macroeconomic fundamentals.…”

Section: IImentioning

confidence: 99%

Taper Tantrum and Emerging Equity Market Slumps

Estrada

Park

Ramayandi

2015

Emerging Markets Finance and Trade

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The views expressed in this paper are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. Terms of use: Documents inADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use.By making any designation of or reference to a particular territory or geographic area, or by using the term "country" in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. Note: In this publication, "$" refers to US dollars.The ADB Economics Working Paper Series is a forum for stimulating discussion and eliciting feedback on ongoing and recently completed research and policy studies undertaken by the Asian Development Bank (ADB) staff, consultants, or resource persons. The series deals with key economic and development problems, particularly those facing the Asia and Pacific region; as well as conceptual, analytical, or methodological issues relating to project/program economic analysis, and statistical data and measurement. The series aims to enhance the knowledge on Asia's development and policy challenges; strengthen analytical rigor and quality of ADB's country partnership strategies, and its subregional and country operations; and improve the quality and availability of statistical data and development indicators for monitoring development effectiveness.

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Exchange Rate Trends and Management in India

Hutchison

Pasricha

2016

Monetary Policy in India

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Emerging Market Volatility: Lessons from The Taper Tantrum

Cited by 92 publications

References 10 publications

The Coming US Interest Rate Tightening Cycle: Smooth Sailing or Stormy Waters?

The Coming US Interest Rate Tightening Cycle: Smooth Sailing or Stormy Waters?

Taper Tantrum and Emerging Equity Market Slumps

Exchange Rate Trends and Management in India

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