The question that intrigued me is how are these new emerging market competitors, businesses that are relatively speaking small and under-resourced, managing this feat?
Most monetary authorities in emerging market economies have two implicit targets, they aim to maintain a low inflation while also avoiding large currency movements.
It serves as an intermediary between emerging market businesses and international derivatives market makers to increase access to risk management instruments.
The reform was closely related to, and put in place nearly simultaneously with, the actions of several emerging market countries to place collective action clauses in their bond contracts.
At that time, the market for emerging markets' sovereign debt was small and illiquid, and the standardization of emerging-market debt facilitated risk-spreading and trading.
