The small rise in most emerging market equities over the past month was eclipsed by the 4% or so rise in developed market equities. So far in 2013, emerging equity markets have underperformed developed markets by over 15%. This is a greater degree of underperformance than seen during the global financial crisis of 2008 and is similar to that seen during the 2000 stock market crash. We do not expect it to persist next year as the Fed should tread carefully in scaling back stimulus and economic growth in emerging economies is likely to remain stronger than in developed markets.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services