This book reviews the contemporary issues in international monetary and financial economics (such as financial liberalisation, crisis, exchange rate determination, capital control, domestic capital market reform, etc.) in an emerging financial market such as Thailand from a welfare economic p- spective, highlighting the social welfare implications of these issues. This 3 book also suggests a normative social approach (as formalised in the new welfare economics paradigm) (see Islam 2001a, b for a discussion of this; concept) for analysing and addressing these issues and formulating appr- riate...