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Global Financein Emerging Market Economies (Routledge International Studies in Money andBanking)
Emerging marketeconomies have accounted for three quarters of world economic growth and morethan half of world output over the last decade. But the energy and ideasinherent in emerging economies cannot generate growth by themselves withoutresources to support them — and first among these resources is money which isneeded to purchase the capital and knowhow that turn ideas and initiative intoincome. How do emerging economies rich in resources other than money get money?This question encapsulates what emerging market finance is all about, and whyfinance is absolutely crucial to economic development.
In emergingcountries, most of the population does not have access to bank accounts orfinancial markets to save or borrow. The result is that many firms cannot getaccess to financial resources to grow, while households cannot borrow and savein ways that could reduce the riskiness and poverty of their lives. Even thosethat do have access to formal finance find that credit is unreliable andexpensive. These financial failures limit growth and also increase thefrequency of costly financial crises.
These issues,and many more like them, mean that finance in emerging economies is differentand often more complex than the view presented in most textbooks, where financeis only considered from the perspective of wealthy, developed economies. Thisbook addresses this failure by focusing on the important characteristics offinancial systems in emerging market economies and their differences from thosein developed countries. This book surveys both theoretical and empiricalresearch on finance in emerging economies, as well as reviewing numerous casestudies. The final chapters describe and compare financial systems within thefour different regions that encompass most emerging economies: Sub-SaharanAfrica, the Middle East, Asia, and South America.
by Todd Knoop
Buy new Price: $102.29
http://www.amazon.com/Finance-Emerging-Economies-Routledge-International/dp/0415501210/ref=sr_1_1?ie=UTF8&qid=1420212433&sr=8-1&keywords=global+finance+in+emerging+market
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