Emerging markets today constitute a non-negligible part of the opportunity set for global investors, today about 12% of global market capitalization. They have historically allowed investors to take advantage of the relatively greater set of economic growth opportunities in the developing world....

With heightened uncertainties and moderating global and Western European growth and oil prices, and volatile capital flows, Russia is likely to grow by 4.2 percent in 2010, followed by 4.5 percent in 2011 and 3.5 percent in 2012 as domestic demand expands in line with gradual improvements in the...