FT has an excellent article that examines the impact of the Eurozone crisis on the emerging economies. The graphic below highlights the negative effect of Eurozone crisis on the emerging economy bond and equity markets and their currency markets.
Private capital flows to emerging economies have declined, raising questions about financing current account deficits, especially in certain highly stretched economies. As the graphic below shows, the inflows have been declining since the second half of 2010, when the full magnitude of the Eurozone crisis started becoming apparent.
Though emerging economies exports to Eurozone have grown impressively in the past decade, except for the East Europeans, it remains a small proportion of their GDP.