Conclusion: Financial Markets and the Memory of the Future
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Emerging markets themselves are hardly new. Once countries like the United States, Japan and Argentina were emerging markets. Over the past century some changed status, reaching the financial nirvana of the investment grade, the economic paradise of the developing world. Others are still emerging, and from time to time, submerging. At the heart of the “emerging markets” notion is probably the one of a promise, a credible promise of a great transformation, a successful story that became a reality: a developed country.
KeywordsPolitical Economy Financial Market Mutual Fund Institutional Investor Pension Fund
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