What is an Emerging Market?

@inproceedings{Mody2004WhatIA,
  title={What is an Emerging Market?},
  author={A. Mody},
  year={2004}
}
  • A. Mody
  • Published 2004
  • Economics, Business
As developing economies become richer, they seek to contract with the global economy in increasingly complex ways. Dealing with that complexity often implies the need to renegotiate contracts. However, such recontracting is viewed with concern, particularly by market participants. At the same time, iron-clad commitments to abstain from recontracting are untenable. Sovereign debt experts have long dealt with this dilemma. This paper argues that the acute trade-off between commitment and… Expand
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