The problems facing developing economies

Nobel Prize-winning economist Kenneth Rogoff has been speaking to Radio 4's Today programme about the problems facing some of the world's major developing economies.

Turkey, India and South Africa have all raised interest rates to defend their currencies, which have come under recent pressure.

Mr Rogoff explained that "at the root" of the countries' financial problems is concern over whether China's economy is slowing down to a greater level than desired.

He also said there was "a lot of uncertainty" surrounding the US Federal Reserve's decision to gradually "begin normalising its experimental policies".

First broadcast on BBC Radio 4's Today programme on Thursday 30 January 2014.