New IMF book “Frontier and Developing Asia – The Next Generation of Emerging Markets”
New IMF book on the topic “Frontier and Developing Asia - The Next Generation of Emerging Markets” analyzes issues related to economic growth and structural transformation as well as financial sector and monetary policy framework issues of Emerging Markets in Asia.
While emerging markets have played an important role on the global economic stage for some time and are now a major driver of global growth, a new group of fast-growing low-income countries, sometimes referred to as frontier economies, is receiving increased attention and has become the darling of capital markets. The question is whether these countries will become the next generation of emerging markets and what lessons can be learnt that might be relevant for other low-income countries that want to grow more rapidly and join the group of frontier economies.
With a combined population of more than 350 million people frontier and developing Asia, which includes countries such as Vietnam, Cambodia, and Bangladesh, is located in the world’s fastest-growing region and has favorable demographics. Despite their heterogeneity, the countries share a number of common macroeconomic, financial, and structural challenges. The book addresses issues related to economic growth and structural transformation, as well as the risk of a poverty trap and rising income inequality. The book also analyses a number of financial sector and monetary policy framework issues.