Product Description: The central question addressed in Financial Innovations and the Welfare of Nations is how the transfer of financial innovations from developed to developing economies can nurture the dynamics of emerging capital markets. National capital markets can be positioned along a continuum ranging from embryonic to mature and emerged markets according to a decreasing "national cost of capital" criterion...read more

A collection of essays discusses the primary challenge facing firms, governments, and other players, stressing the importance of national regulations promoting competition and nonmonopolistic market structures. (view table of contents)