Keeping the momentum: how finance can continue to support growth in EMEs

Papers in this volume were prepared for a meeting of emerging market Deputy Governors organised by the Bank for International Settlements on 18–19 March 2024.

In emerging market economies (EMEs), finance has been key to economic development. To keep the momentum, these economies face the challenge of adapting their financial systems to ensure that finance continues to contribute positively to growth. With many EMEs heavily reliant on banks, there is potential for further development of capital markets. Additionally, new digital technologies present opportunities to enhance the efficiency of existing financial institutions, improve resource allocation and expand the range of financial services. Finally, maintaining macro-financial stability remains a prerequisite for sustainable growth.

The papers in this volume examine the evolution of financial systems in EMEs, the current challenges they face and the policies being implemented by authorities to foster further development, with a particular focus on leveraging the opportunities presented by digital technologies.