New Financial Landscape (Canuto et al.)

The new financial landscape: what it means for emerging market economies by Otaviano Canuto, Catiana García-Kilroy and Anderson C. Silva published by World Bank (09/2012). “…How the European Union will address the future of the eurozone, including uncertainties over its banking sector, as well as how the United States handles its Fiscal Cliff, will weigh heavily on economic balances across all economies worldwide…Under this scenario, the ability of EMEs to handle their own fiscal, financial, and real economy weaknesses is critically tied to their ability to weather external shocks and take advantage of growing global savings while searching for yield and growth opportunities.”