Taper Tantrum 2.0 appears unlikely

The monetary policy reversal in the US will impact on the global financial markets. It will place emerging economies at risk of capital outflows, as happened in 2013, with the possible consequence of a spike in volatility in the bond and currency markets. However, the macroeconomic conditions of many emerging economies have improved significantly since 2013. For example, current-account deficits have been reduced and currency reserves built up. The study looks at macroeconomic indicators of six emerging economies and shows that these developed overwhelmingly positively in five of the economies examined. The sole exception is Turkey, which appears to be significantly more vulnerable today than in 2013.

Taper Tantrum 2.0 appears unlikely(PDF, 201 KB, non-accessible)