This may be at odds with most recent events in financial markets which suggest that the spotlight should be turned on the group of advanced economies.
But as many speeches and papers have already been devoted to the financial market turmoil, I think it is useful to redirect attention to emerging market economies, not least given their growing importance for developments in the global economy. My remarks will attempt to address three questions. 1. How has emerging markets’ participation in the global monetary system evolved in recent years?