Emerging Financial Markets In The Global Economy

This collection of papers considers many of the important issues raised by these dramatic changes in emerging financial markets, including: the nature of this systemic risk and how governments can go about reducing it: how to increase the supply of capital that can be invested in development; aspects of foreign direct investment; informal credit markets; the impact of informal finance on development; how lessons learned from microfinance in developing countries can be applied to credit markets in the United States; and how to create institutions that can effectively deal with the problems inherent in lending to poor people in developing countries.The book is intended for policy makers and scholars interested in capital markets in developing and transition economies. It is also suitable for use as a supplementary text in upper level undergraduate courses on development finance.