The currency crises that engulfed East Asian economies in 1997 and Mexico in 1994--and their high development costs--raise a serious concern about the net benefits for developing countries of large flows of potentially reversible short-term international capital. Written by senior policy-makers and academics, the contributions to this volume examine in depth the macroeconomic and policy dilemmas confronting public authorities in the emerging economies as they deal with short-term capital movements, especially in the period before the outbreak of these crises.

This book analyzes the new trends in capital flows to emerging markets since the Asian crisis, their determinants and policy implications. It explains why such flows have declined so dramatically in recent years, emphasising both structural and cyclical factors. Senior bankers, regulators, and well-known academics explain the behaviour of different players. The book breaks new ground by showing in detail how such behaviour has contributed to the decline of flows and their volatility. The book suggests what coping mechanisms developing countries could adopt to deal with crisis situations; what...

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. The book makes innovative proposals on how best national governments - and especially - international organisations can avoid such crises.

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...

Climate change is one of the greatest challenges we face - both in terms of its potential impact on our societies and the earth, and the scale of international co-operation that is needed to confront it. Emerging as a component of the international dialogue on the environment and climate, the role of forests in influencing earth systems will need to be assessed. Drawing together perspectives from researchers and policy makers, this book explores how forests will interact with the physical and natural world, and with human society as the climate changes. Also considered is how the world's...

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...

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. The book makes innovative proposals on how best national governments - and especially - international organisations can avoid such crises.

The book examines the operation of International Monetary Fund and World Bank conditionality in six developing countries (Argentina, Chile, Costa Rica, Jamaica, Mexico and Tanzania) and examines its effects on their economies. It draws conclusions and policy lessons for all developing countries as regards the operation of adjustment policies. The book also examines the regulatory treatment of Third World debt, both in the US, Canada and Europe, making specific policy suggestions for increasing flexibility in debt management.