The whirlwind of financial globalization has descended upon emerging market economies and rapid change has brought both benefits and problems upon a dynamic group of nations.This book examines the impact of ever increasing financial globalization on emerging market economies, both in the former communist countries of Eastern Europe and the developi

Dilip K. Das is a Toronto-based consultant to international organizations.

1 The emergence of emerging market economies 2 Global capital flows to emerging market economies 3 Financial liberalization in the emerging market economies: growth, volatility, or both? 4 Evolving financial market structure in the emerging market economies 5 Financial and macroeconomic instability in the emerging market economies 6 Financial globalization and the contagion effect 7 Global financial architecture and financial and regulatory infrastructure