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.
Meticulously researched and textured with fascinating details, these essays "show" as well as "tell" where Russia has been in the past fifteen years and where it is going.
This book explores a problem that has been building quietly for years: the military has been expending without expanding or even replacing what has been spent.
