"Since the 1990s, several emerging market economies (EMEs) have, to varying degrees, embraced the process of 'financial globalisation', broadly defined as a set of policies that involve allowing for greater openness to cross-border capital flows as well as greater market access to foreign financial institutions. By 2010, the EMEs accounted for just under half of global GDP and are set to surpass the advanced economies in the next few years. However, EMEs are not without their concerns. They have been faced with a variety of policy challenges owing to their increasing integration with global financial markets. This book discusses some of the challenges relating to macroeconomic and financial management in a volatile and uncertain world, brought about by greater financial openness. The emphasis of the book is on exploring the implications of a key set of issues emanating from financial globalisation on emerging market economies in a rigorous but readable manner. "-- Provided by publisher.
Includes bibliographical references (pages 254- 277) and index.