A Modern Economic History of Emerging Markets (1950–2020)

“This extremely valuable book helps the reader to understand the scale of the success many EMEs have experienced historically and the forces that have driven this success.” – Baron Jim O’Neill, Member of the House of Lords and former Chief Economist of Goldman Sachs International “This is a wonderful book, full of academic rigour, vivid prose and a consistent, thoughtful argument.” – David Lubin, Senior Research Fellow Chatham House, London UK. “This welcome contribution is a coherent refresher for seasoned EME watchers and a very accessible introduction for those who are taking a first look at emerging markets.” – Refet S. Gürkaynak, Professor of Economics, Bilkent University “This book is a must-read for anyone interested in understanding the history of key emerging markets since 1950.” – Professor Willem Buiter, Former Chief Economist of Citi Group and EBRD “At a critical juncture in global geo-economics and geopolitics, the analytical framework with a historical bent that Ahmet Arkali espouses in this book is timely and relevant.” – Hari Hariharan, Chairman and CEO, NWI Management This book offers a comprehensive economic history of emerging market economies and identifies a complex web of sustainability problems that EMEs face going forward. It presents a truly global perspective on the development of EMEs and the long-term trends that have brought EMEs to a critical economic juncture. The book discusses the extraordinary economic achievements of the post-WWII era, traces the vulnerabilities that have emerged over the past few decades, and assesses how these might limit the ability of EMEs to cope with the volatility brought about by a new ‘age of disruption’ defined by climate change, demographic stagnation, and endemic economic exclusion. This book will be of interest to researchers of economic history and political economy, as well as policymakers, investment professionals, and the general reader interested in global economic development. Ahmet Akarli is a Senior Research Fellow at the London School of Economics and worked for many years as a macroeconomist and investment strategist at investment banks and hedge funds, including HSBC, Goldman Sachs and Autonomy Capital.