After the financial crisis of the recent years, there are countries that have fared better than others, due in part to a transfer of capital from financial markets in developed countries to emerging market economies.

To identify the winners and losers, economists Ignacio Munyo and Ernesto Talvi calculated a Global Index of Economic Exuberance where the winners are Argentina, Angola, and Brazil, and the losers are Hungary, the United States, and Kazakhstan.

CERES: Center for the Study of Economic and Social Affairs