Why Emerging Markets Are Wary of Modern Monetary Theory

<p><span style="font-weight: 400;">Today’s Long Reads Sunday is a reading of Andy Mukherjee’s piece: “</span><a href= "https://www.bloomberg.com/opinion/articles/2020-10-28/emerging-markets-need-to-beware-mmt-opening-an-inflation-quagmire?sref=qUxVp6JU"><span style="font-weight: 400;">Why Emerging Markets Are Wary of a Modern Monetary Fix</span></a><span style="font-weight: 400;">”.</span></p> <p><span style="font-weight: 400;">The argument is that while Western governments debate just how far we can take the idea of money printing without paying a dubious price, for emerging-market governments there simply isn’t the same capacity to print their way out of problems.</span></p>