Emerging Market Heterogeneity: Insights from Cluster and Taxonomy Analysis

July 15, 2015

Preview Citation

Format: Chicago

Zhongxia Zhang, and Yuan Gao. Emerging Market Heterogeneity: Insights from Cluster and Taxonomy Analysis, (USA: International Monetary Fund, 2015) accessed December 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper studies growth patterns in Emerging Market Economies (EMs) from the perspective on clusters and taxonomies. First, it documents developments over the past five decades in EMs and uses a cluster analysis to better understand convergence and the investment-growth nexus. Second, it looks at the performance of EMs since 2000 and develops a taxonomy to classify countries according to their factor endowments as well as their real and financial external linkages. The taxonomy offers insights on growth dynamics pre and post the global financial crisis. Results highlight the high degree of heterogeneity in EMs and the need for more granular and targeted near and long-term policy advice.

Subject: Commodities, Consumption, Emerging and frontier financial markets, Financial crises, Global financial crisis of 2008-2009, International trade, National accounts, Production, Terms of trade, Total factor productivity

Keywords: Cluster, Cluster analysis, Commodity price booms, Commodity-exporting EMs, Consumption, Emerging markets, EMs, EMs group, Global, Global financial crisis of 2008-2009, Groups EMs, Growth, Growth cluster, Growth rate, Heterogeneity, Investment share, Investment-growth-unemployment nexus, Net commodity export deficit, Taxonomy, Terms of trade, Terms of trade shock, Total factor productivity, Unemployment rate, WP

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2015/155
Stock No:

WPIEA2015155
ISBN:

9781513587622
ISSN:

1018-5941

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