TY - BOOK ID - 84656611 TI - Emerging Market Volatility : Lessons from The Taper Tantrum AU - Sahay, Ratna. AU - Arora, Vivek. AU - Arvanitis, Athanasios. AU - Faruqee, Hamid. AU - Mancini-Griffoli, Tommaso. AU - N'Diaye, Papa. PY - 2014 SN - 1498361366 1484356004 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Exports and Imports KW - Foreign Exchange KW - Investments: Bonds KW - Money and Monetary Policy KW - Money and Interest Rates: General KW - Financial Markets and the Macroeconomy KW - Policy Objectives KW - Policy Designs and Consistency KW - Policy Coordination KW - Fiscal Policy KW - International Investment KW - Long-term Capital Movements KW - General Financial Markets: General (includes Measurement and Data) KW - Monetary Policy KW - Currency KW - Foreign exchange KW - International economics KW - Investment & securities KW - Monetary economics KW - Capital flows KW - Exchange rates KW - Bond yields KW - Unconventional monetary policies KW - Foreign exchange intervention KW - Balance of payments KW - Financial institutions KW - Monetary policy KW - Capital movements KW - Bonds KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:84656611 AB - Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discussed its plans for tapering unconventional monetary policies, these emerging markets have experienced financial turbulence at the same that their domestic economic activity has slowed. This paper examines their experiences and policy responses and draws broad policy lessons. For emerging markets, good macroeconomic fundamentals matter, and early and decisive measures to strengthen macroeconomic policies and reduce vulnerabilities help dampen market reactions to external shocks. For advanced economies, clear and effective communication about the exit from unconventional monetary policy can and did help later to reduce the risk of excessive market volatility. And for the global community, enhanced global cooperation, including a strong global financial safety net, offers emerging markets effective protection against excessive volatility. ER -