Reform prevails in emerging economies

Reform prevails in emerging economies

Ewan Thompson, manager of the Neptune Emerging Markets fund, analyses which BRIC economies have started the reform process, and how much further they have to go

Reform is the watchword for emerging markets. There is barely an emerging economy not currently experiencing a serious reform impetus (or at least the prospect of such) - and no more so than for the major BRIC markets.  While, last year, most emerging markets were rudderless boats in stormy seas, this year many have begun to create self-help stories and are embarking on crucial policy changes that afford much greater protection against the still volatile waters.  The years preceding the global financial crisis were good ones for emerging markets - risk appetite was high, credit was ea...