- Modern emerging markets will celebrate their 30th birthday on December 31, 2017, the anniversary of the creation of the MSCI EM Index.
- The team at Renaissance Capital outlined the 2,400-year history of emerging market investing, in honor of the upcoming birthday.
- The "first EM crisis" the team found was in 4th century Greece.
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Here's a super-short history of 2,400 years of emerging markets
The first emerging markets crisis was in 4th century Greece, Renaissance Capital finds.
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Modern emerging markets will celebrate their 30th birthday on December 31, 2017, the anniversary of the creation of the MSCI EM Index.
The economies that we today consider to be "emerging," however, are not necessarily the ones that would've been considered emerging several centuries ago. China, for example, led its European counterparts by leaps and bounds at the start of the Renaissance.
In honor of the MSCI EM Index's upcoming birthday, Renaissance Capital's Daniel Salter, Vikram Lopez, Charles Robertson, Yvonne Mhango, and Oleg Kouzmin outlined the 2,400-year history of emerging market investing in a report to clients.
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Business Insider broke down their excellent research into a short timeline:
- 4th century BC
- As a reference point, Plato, Aristotle, and Alexander the Great
- 1602:
- 1720:
- Isaac Newton
- 1763:
- 1804:
- 1872
- 1875
- 1822 to 1824:
- 1825:
- Mid-1800s to early-1900s:
- 1930s:
- Great Depression and rise of protectionism
- Post WWII:
- 1971, the collapse of Bretton Woods:
- 1979 to 1980:
- hikes rates to 20%
- 1980s:
- 1989:
- 1998:
- BONUS — 2001:
- came up
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