It appeared that emerging markets are not as bad as people think about them. When I did my research for the dissertation on how emerging markets volatile in comparison with the developed markets, I found that surprisingly, developed markets demonstrate such behaviour patterns which is just a bit better than emerging markets.
Pr. Paul Marsh from London business school confirms this, more than that, he said that last decades the developed markets had more crisis that the emerging markets. Check 4 surprising facts in this video Four surprising facts about emerging markets | 720 Investor.