A further distinctive feature is more straightforward, but can easily be overlooked - that policy-makers in emerging market economies tend to have less information available to them about developments in the economy. This is essentially a form of resource constraint. It applies to statistics, where relevant series may be available less frequently, or in less comprehensive or disaggregated form, or simply less reliable.
In South Africa, what was in origin a relatively minor distortion in the compilation of the CPI produced a downward revision, when it was discovered, of nearly 2 percentage points in the 12-month rate of inflation. This at least had the merit of being a rare example of a good news shock.