Product Description: The book examines the rapid growth and dramatic changes in capital flows globally and to emerging markets. In the context of relevant economic theory, it analyses benefits and costs of large and volatile capital flows to developing countries; the latter includes damaging currency crises as the Mexican and East Asian economies...read more

This reissue, initially published in 1984, examines the evolution of international financial flows to Latin America since 1945, along with their implications for National Development . The book describes how, in each of the first three decades since the war, a new agency emerged (foreign investors in the 1950s, official aid agencies in the 1960s and multinational banks in the 1970s) which was willing to play a dynamic role in generating new financial flows to the region. The lack of such an agent in the 1980s, combined with a reluctance on the part of former investors to maintain their level of assistance culminated in an economic debt crisis in Latin America which this work seeks to address, asking the crucial question: what measures should be taken – both nationally and internationally – to deal with this critical issue , in a way that will both encourage Latin American Development and avoid a major international financial crisis?

The financial crisis, which originated in developed country financial markets, has spread to developing countries and has turned into a global financial meltdown. Governments and Central Banks--though taking many and costly measures--seem powerless to stop the crisis. In light of this major global crisis that is hurting economies across the globe, this highly topical book focuses on the transparency and regulatory measures that become desirable after the current crisis; the implications of both the crisis and regulatory discussions for developing and developed economies; and reforms in the global financial architecture that might make the global financial system more stable and more equitable. Given the depth of the current financial crisis, the world economy is in unchartered territory. As a consequence, this book aims to systematically understand current major problems, both in the financial system, its governance, and in its links to global economic imbalances. It will try to explain how both market actors and regulators behavior, as well as how the prevailing ideology of extreme financial liberalization without sufficient regulation contributed to the financial crisis. The book presents radical, but specific and politically feasible, proposals to try to ensure a more stable, equitable and growing world economy.Contributions are written by leading authorities in their field, with a mixture of very senior national--as well as international--policy makers, practitioners from the private sector, and leading academics; contributors come from both developed and developing countries.

This is a comprehensive and unique survey of how the relationship between finance and economic development has changed since the historic Monterrey Consensus of the International Conference on Financing for Development in 2002. It has become clear that mechanisms are needed to ensure that international private capital flows, including FDI, enhance productive investments and thereby contribute to development. Recent trends in official development financing offer some grounds for optimism, although many developing countries are constrained by their the external debt problems, and this book will play a key role in critically assessing recent policies and proposing constructive ways forward. The final part on systemic issues highlights new concerns and the modest progress so far.

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Product Description: Volatility in emerging markets has become a familiar problem in the cases of Latin America and Asia; the particularities of the same phenomenon in the new market economies of Eastern Europe - the Czech Republic, Poland and Hungary - are of newer vintage...read more (view table of contents, read Amazon.com's description)

Product Description: Private capital flows to Latin America have increased dramatically since 1989, approximately doubling in volume each year. This book examines the possible causes of the new - and unforeseen - wave of investment, from both the borrower and and the lender perspective...read more

Product Description: The book examines in depth the progress of reform in the banking sector in Eastern Europe - which is a key element in its transition to the market. Particular emphasis is placed on the problem of bad debts owed by companies to banks, and on criteria and options for overcoming this serious problem...read more