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.
![](http://www.indexmundi.com/blog/wp-content/uploads/2011/12/index-of-economic-exuberance-copy2.jpg)
CERES: Center for the Study of Economic and Social Affairs