The book is partially the result of a grant given by Citibank to Columbia Business School for the purpose of designing a new course in emerging financial markets for their MBA program. The text reflects the tremendous research in recent years seeking to explain the financial crises in Latin America and Asia during the mid to late 1990s and related issues such as capital flows, currency regimes, legal and regulatory matters, corporate governance,and the functions and structure of financial systems.
Emerging Financial Markets suggests and explores three key foundations that explain why emerging markets behave differently than developed markets: (1) law, (2) institutions of information and control, and (3) inflation and currency stability.
Charles W. Calomiris is the Arthur F. Burns Scholar in Economics at AEI.
In Making a Killing: The Deadly Implications of the Counterfeit Drug Trade, AEI resident fellow Roger Bate analyzes the burgeoning international trade in counterfeit drugs and recommends steps that governments and law enforcement agencies could take to stop it.
Should Medicare pay for patient expenses the way automobile insurers pay for car-repair bills? In How to Fix Medicare, health economist Roger Feldman argues that a radical shift in Medicare policy is not only possible but imperative.
