Chapter

Lessons of the Crisis for Emerging Markets

Barry Eichengreen

in The Global Financial Crisis and Asia

Published in print October 2012 | ISBN: 9780199660957
Published online January 2013 | e-ISBN: 9780191748981 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199660957.003.0012
Lessons of the Crisis for Emerging Markets

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This chapter attempts to draw out the implication of the global financial and economic crisis for emerging markets. The most important implications will focus on financial markets, where there will be less reliance on portfolio capital flows to finance investment and some de-globalization of banking so that the domain of bank operations more closely coincides with the domain of regulation. By contrast, the implications for other dimensions of globalization and for the structure of the international monetary system will be more limited.

Keywords: financial markets; financial crisis; capital flow; international monetary system; globalization

Chapter.  6602 words. 

Subjects: Financial Markets

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