May’s publication summarizes two outlooks for emerging markets. The first discusses how stronger economic growth and deepening capital markets will mean that emerging markets account for an increasing amount of global equity capitalization in future years, creating opportunities for investors. The second considers how structural problems in emerging markets are being misdiagnosed as cyclical issues; until this changes, economic growth may continue to disappoint.

• “EM Equity in Two Decades—Refreshed” Timothy Moe et al., Goldman Sachs, March 15, 2013
• “Why Is EM Under Fire?” Manoj Pradhan and Patryk Drozdzik, Morgan Stanley, April 24, 2013