Financial Markets Volatility and Performance in Emerging Markets

Capital mobility is a double-edged sword for emerging economies, as governments must weigh the benefits of investment against the potential economic costs and political consequences of currency crises, devaluations, and instability. "Financial Markets Volatility and Performance in Emerging Markets" addresses the delicate balance between capital mobility and capital controls as developing countries navigate the convoluted global network of private investors, hedge funds, large corporations, and international institutions such as the International Monetary Fund.A group of experts here examine rapidly globalizing financial markets with regard to capital flows and crises, domestic credit, international financial integration, and economic policy. Featuring detailed analyses and cross-national comparisons of countries such as Brazil, Argentina, Uruguay, and Korea, this book will shape economists' and policy makers' understanding of the effectiveness of restrictions on capital mobility in the world's most fragile economies.

Sebastian Edwards is the Henry Ford II Professor of International Business Economics at the Anderson Graduate School of Management at the University of California, Los Angeles. He is the author or editor of several books, including The Decline of Latin American Economies and Capital Flows and the Emerging Economies, both published by the University of Chicago Press. Marcio G. P. Garcia is associate professor of economics at Pontificia Universidade Catolica do Rio de Janeiro and a visiting associate professor at Stanford University's Center for Research on Economic Development and Policy Reform.