Emerging Capital Markets in Turmoi

This book represents Guillermo Calvo's work at its best. It combines a deep understanding of the events and factors involved in emerging markets' struggle with capital flow volatility, an unmatched ability to isolate and illuminate the essence of the phenomena in question, and an exciting irreverence towards misguided conventional wisdom. Essential for anyone interested in emerging markets and, more broadly, in connecting insightful theories with reality.
Over the past 15 years international financial flows have expanded at a dizzying pace. Despite suffering dramatic crises with occasional worldwide repercussions, emerging markets now play a central role in the workings of the new global capital market. Guillermo Calvo has been at the forefront in analyzing and, in many cases, predicting these developments. This new collection of essays brings together his many landmark contributions on the economics of emerging markets. Every serious student of the international macroeconomy will want to study this book.