{"id":18847,"date":"2014-01-08T16:00:32","date_gmt":"2014-01-08T15:00:32","guid":{"rendered":"http:\/\/www.ieseg.fr\/?post_type=events&#038;p=18847"},"modified":"2020-09-15T00:17:31","modified_gmt":"2020-09-14T22:17:31","slug":"conference-canuto-emerging-markets","status":"publish","type":"events","link":"https:\/\/www.ieseg.fr\/en\/events\/conference-canuto-emerging-markets\/","title":{"rendered":"Conference \u00ab Lost in Transition: Emerging Markets in the Global Economy \u00bb, by Dr. CANUTO &#8211; 13\/02\/2014, Paris campus"},"content":{"rendered":"<p><a href=\"http:\/\/www.ieseg.fr\/wp-content\/uploads\/CANUTO_Otaviano.jpg\"><img loading=\"lazy\" class=\" wp-image-18811 alignleft\" style=\"border: 1px solid black; margin-left: 5px; margin-right: 5px;\" src=\"https:\/\/www.ieseg.fr\/wp-content\/uploads\/CANUTO_Otaviano-214x300.jpg\" alt=\"CANUTO_Otaviano\" width=\"128\" height=\"180\" srcset=\"https:\/\/www.ieseg.fr\/wp-content\/uploads\/CANUTO_Otaviano-214x300.jpg 214w, https:\/\/www.ieseg.fr\/wp-content\/uploads\/CANUTO_Otaviano-731x1024.jpg 731w, https:\/\/www.ieseg.fr\/wp-content\/uploads\/CANUTO_Otaviano-107x150.jpg 107w, https:\/\/www.ieseg.fr\/wp-content\/uploads\/CANUTO_Otaviano.jpg 1500w\" sizes=\"(max-width: 128px) 100vw, 128px\" \/><\/a>During 2013, enthusiasm about emerging market economies\u2019 post-2008 economic resilience and growth potential has given way to bleak forecasts. Many now believe that the recent broad-based growth slowdown in emerging economies is not cyclical, but a reflection of underlying structural flaws.<\/p>\n<p>This interpretation contradicts those who, not long ago, were anticipating a switchover in the engines of the global economy, with autonomous sources of growth in emerging and developing economies compensating for the drag of struggling advanced economies.<\/p>\n<p>It has become apparent that emerging-market enthusiasts underestimated at least two critical factors. First, emerging economies\u2019 motivation to transform their growth models was weaker than expected. The global economic environment \u2013 characterized by massive amounts of liquidity and low interest rates stemming from unconventional monetary policy in advanced economies \u2013 led most emerging economies to use their policy space to build up existing drivers of growth, rather than develop new ones. The second problem with emerging economy forecasts was their failure to account for the vigor with which vested interests and other political forces would resist reform. The inevitable time lag between reforms and results has not helped matters.<\/p>\n<p>Last summer, the mere suggestion of a monetary-policy reversal in the United States sparked a surge in bond yields, which triggered an asset sell-off in several major emerging economies.<\/p>\n<p>Perhaps this experience will have served as a wake-up call for these countries\u2019 leaders. Only by recognizing the exhaustion of old growth patterns and pursuing the needed structural reforms can emerging economies achieve strong, stable, and sustainable GDP growth \u2013 and fulfill their potential as the global economy\u2019s main engines.<\/p>\n<p><b>Dr. Otaviano Canuto\u00a0<\/b>is the Senior Advisor on BRICS in the Development Economics Department of the World Bank. He has been Vice President at the World Bank and the Inter-American Development Bank. Previously he was Secretary for International Affairs at the Brazilian Ministry of Finance. He was Professor of Economics at the University of S\u00e3o Paulo and University of Campinas (UNICAMP) in Brazil. He is a columnist for the Project Syndicate.<\/p>\n<p><b>Conference: \u201cLost in Transition: Emerging Markets in the Global Economy\u201d<\/b><\/p>\n<p><b><\/b>By Dr. Otaviano Canuto, Senior Advisor on BRICS in the Development Economics Department World Bank.\u00a0February 13<sup>th<\/sup>\u00a02014 at 6.30pm \u2013 I\u00c9SEG Paris Campus &#8211; Socle de la Grande Arche 1, Parvis de La D\u00e9fense \u2013 92044 La D\u00e9fense Cedex<\/p>\n<p>registration : www.ieseg.fr\/conference-canuto<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During 2013, enthusiasm about emerging market economies\u2019 post-2008 economic resilience and growth potential has given way to bleak forecasts. Many now believe that the recent broad-based growth slowdown in emerging [&hellip;]<\/p>\n","protected":false},"featured_media":0,"template":"","events-category":[41],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Conference \u00ab Lost in Transition: Emerging Markets in the Global Economy \u00bb, by Dr. CANUTO - 13\/02\/2014, Paris campus - I\u00c9SEG<\/title>\n<meta name=\"description\" content=\"During 2013, enthusiasm about emerging market economies\u2019 post-2008 economic resilience and growth potential has given way to bleak forecasts. 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