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Economics

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This paper studies growth patterns in Emerging Market Economies (EMs) from the perspective on clusters and taxonomies. First, it documents developments over the past five decades in EMs and uses a cluster analysis to better understand convergence and the investment-growth nexus. Second, it looks at the performance of EMs since 2000 and develops a taxonomy to classify countries according to their factor endowments as well as their real and financial external linkages. The taxonomy offers insights on growth dynamics pre and post the global financial crisis. Results highlight the high degree of heterogeneity in EMs and the need for more granular and targeted near and long-term policy advice.

Business cycles -- Developing countries. --- Economic development -- Developing countries. --- Income -- Developing countries. --- Industrial productivity -- Developing countries. --- Investments -- Developing countries. --- Exports and Imports --- Finance: General --- Macroeconomics --- Production and Operations Management --- Investments: Commodities --- Business Fluctuations --- Cycles --- Economic Growth of Open Economies --- Macroeconomic Analyses of Economic Development --- Measurement of Economic Growth --- Aggregate Productivity --- Cross-Country Output Convergence --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Macroeconomics: Consumption --- Saving --- Wealth --- Empirical Studies of Trade --- Financial Crises --- General Financial Markets: General (includes Measurement and Data) --- Commodity Markets --- International economics --- Economic & financial crises & disasters --- Finance --- Investment & securities --- Total factor productivity --- Consumption --- Terms of trade --- Global financial crisis of 2008-2009 --- Emerging and frontier financial markets --- National accounts --- International trade --- Commodities --- Financial crises --- Industrial productivity --- Economics --- Economic policy --- nternational cooperation --- Global Financial Crisis, 2008-2009 --- Financial services industry --- Commercial products --- China, People's Republic of