The papers provide a cutting-edge overview of general issues regarding world capital markets, experience in developing countries and capital market regulation, which many economists believe could turn into the number one topic in international business and economics.

PART 1: INTRODUCTION ; 1. Introduction ; PART 2: GLOBAL QUESTIONS ; 2. A World Financial Authority ; 3. Recasting the International Financial Agenda ; 4. Financial Regulation in a Liberalized Global Environment ; 5. Capital Controls and the World Financial Authority: What Can We Learn from the Indian Experience? ; 6. International Capital Mobility, Macroeconomic Imbalances, and the Risk of Global Contraction ; 7. The Politics of Global Financial Regulation: Lessons from the Fight Against Money Laundering ; PART 3: ISSUES IN INDUSTRIALIZED ECONOMIES ; 8. Financial Market Liberalization and the Changing Character of Corporate Governance ; 9. The Influence of the Financial Media over International Economic Policy ; PART 4: DEVELOPING AND TRANSITION ECONOMIES ; 10. Capital Market Liberalization and Economic Performance in Latin America ; 11. FX Short Positions, Balance Sheets, and Financial Turbulence ; 12. The Three Routes to Financial Crises: The Need for Capital Controls ; 13. "Asian Capitalism" and the Financial Crisis ; 14. The Triumph of the Rentiers? The 1997 Korean Crisis in Historical Perspective ; 15. The Magical Realism of Brazillian Economics: How to Create a Financial Crisis by Trying to Avoid One ; PART 5: REGULATORY QUESTIONS ; 16. Synthetic Assets, Risk Management, and Imperfections ; 17. The role of Derivatives in the East Asian Financial Crisis ; 18. Procyclicality of Regulatory Ratios?

"This collection is an up-to-date overview of the general issues regarding world capital markets, experiences in developing countries, and capital market regulation, which many economists believe could turn into the number one topic in international business."--Business Horizons "This collection is an up-to-date overview of the general issues regarding world capital markets, experiences in developing countries, and capital market regulation, which many economists believe could turn into the number one topic in international business."--Business Horizons