Some countries have primary fiscal surpluses for the first time, and most emerging markets have brought down inflation through tight monetary policy. With corporations cautious about investing and governments prudent about expenditure – especially given the grandiose investments of the past – exports have led growth.
相形之下，上述危机对许多新兴市场国家起到了警醒的作用。一直宽松的政策已经收紧。某些国家首次出现了基本财政盈余，而大多数的新兴市场已通过紧缩的货币政策降低了通货膨胀。随着各个公司对投资抱谨慎态度，政府在开支方面精打细算——尤其是对比过去庞大的投资规模——出口已成为增长的领先因素。许多新兴市场首次出现经常项目盈余。