A clear lesson of recent economic history (and not just in emerging market countries) is the crucial importance of strong banks and other financial institutions, adequately capitalized and able to manage risk, overseen by serious prudential supervision and an independent well managed central bank.
Industrial countries can ill-afford to be sanctimonious on this score -- many of us have experienced the adverse effects of poor prudential supervision or lack of political will to close failing financial institutions -but good management and strong supervision of financial institutions is clearly a key to withstanding economic shocks.