ADB亚洲开发银行：美联储宽松和紧缩周期中新兴市场的表现：各经济体的弹性分析（英文版）

It shows how macroeconomic and institutional variables are associated with emerging markets’ performance, determinants of resilience differ during tightening versus easing cycles, and institutions matter more during difficult times. Findings are largely consistent with economic intuition, i.e., current account balance, international reserves, and inflation are all important determinants of emerging markets resilience.