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Emerging market economies (EMEs) have been a significant driver of global aggregate GDP growth standing at just 4.0% in 2015 – markedly lower than the.The corporate debt of nonfinancial firms across major emerging market economies quadrupled Chapter 2 of the April 2015 Global Financial Stability. International Monetary Fund (2015) documents the cross-country compression in spreads for corporate bonds: It is increasingly a global asset class. Fuertes and