How Resilient Are Sub-Saharan Countries to External Shocks?
Christopher Legilisho and Walter Pacheco
Growth in most emerging economies did not take as hard a hit as expected during the great recession of 2008. However, in light of more recent economic turmoil in these markets, many believe that emerging and developing economies are being struck by a “third wave” of the global financial crisis. As policymakers in these countries, how do we forestall this wave and ensure that, if it hits, our economies will be resilient to the shocks?