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This compilation helps understand the basic forces that are now determining the performance and prospects of emerging market economies (EMEs) around the world. In the past few years, there has been a sharp rise in private capital flows to well performing developing countries, commonly referred to as EMEs. With a drop in net transfers from official sources, the private capital flows in these countries now dwarf official flows.
Growth and Development in Emerging Market Economies: International Private Capital Flows, Financial Markets and Globalization encapsulates in one volume the understanding of the inter-related topics of global imbalances, finance, investment, trade, and infrastructure. Such assemblage is difficult to find in the existing literature in this field. Many chapters discuss the situations in Asia and Latin America, drawing parallels and pointing out contrasts.
The papers in this collection were discussed at the Emerging Markets Forum meeting held in Jakarta, Indonesia in September 2006. The contributors include highly experienced former policy makers and senior officials of multilateral institutions who have lifelong experience in policy formulation at the highest level. The collection would be of value to policy makers in developing countries, officials of multilateral development institutions and researchers and academicians in the field of EMEs.
Table of Contents
Introduction and Overview HARINDER S KOHLI
Global Imbalances, Oil Revenues and Capital Flows to Emerging Market Countries JACK BOORMAN
Private Capital Flows to Emerging Market Economies: Major Drivers, Recent Developments and Key Issues V SUNDARARAJAN and HARINDER S KOHLI
Outward Foreign Direct Investment from Emerging Economies: New Players in the World Economy? HEINZ HAUSER
Outward Foreign Direct Investment from India RAKESH JHA
Building National and Regional Financial Markets: The East Asian Experience ANDREW SHENG
Financial Markets in Latin America CLAUDIO M LOSER
Latin America and East Asia Trade Strategies LUIS MIGUEL CASTILLA
Building Asia`s Infrastructure: Issues and Options HARUHIKO KURODA, RAJAT NAG and RITA NANGIA
Infrastructure Development and Services in Selected Emerging Market and OECD Countries: Key Indicators HARPAUL ALBERTO KOHLI