This book offers a comprehensive analysis of the problems that the current working of capital markets are generating on both developed and developing economies. It pays special attention to the reasons explaining the unstable and volatile working of international financial markets and to the...

Financial reforms, and financial liberalization in particular, have been at the root of many recent cases of financial and banking crises. In several countries financial reforms allowed real interest rates to reach levels exceeding 20 percent per annum in some cases; in other cases, banking and...