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Asian Development Outlook
published by the Asian Development Bank (ADB)
In recent decades, capital flows into emerging markets have undergone two decisive shifts.
The first came in 2008, when the Federal Reserve launched its Quantitative Easing program, flooding global markets with liquidity and driving strong investment into emerging economies.
The second occurred in 2014, when QE ended, and global financial conditions tightened.
Today, in the post-QE phase, capital movements are largely influenced by U.S. monetary policy, trade uncertainty, and geopolitical risks.
However, countries with solid growth prospects, well-developed financial markets, and reliable institutions are better able to maintain investor confidence and withstand global volatility.
