This timely reader of seminal papers published by Palgrave on behalf of Comparative Economic Studies, examines how and why foreign banks enter emerging markets and the positive benefits they bring to the host countries.
This timely reader of seminal papers published by Palgrave on behalf of Comparative Economic Studies, examines how and why foreign banks enter emerging markets and the positive benefits they bring to the host countries.
This timely reader of seminal papers published by Palgrave on behalf of Comparative Economic Studies, examines how and why foreign banks enter emerging markets and the positive benefits they bring to the host countries.
Josef C. Brada is Professor Emeritus of Economics at Arizona State University, USA, Foreign Member of the Macedonian Academy of Sciences and Arts, and President of the Society for the Study of Emerging Markets. His research focuses on international economics, comparative economic systems, and economics of transition. He has served as a consultant to the OECD, the World Bank, and the United Nations Economic Commission for Europe as well as to governments in Europe and Latin America. Born in Czechoslovakia, he received a BS in Chemical Engineering and an MA in Economics from Tufts University, USA, and a PhD from the University of Minnesota, USA.
Paul Wachtel is Professor of Economics and Academic Director, B.S. in Business and Political Economy Program at the Stern School of Business, New York University, USA. His primary areas of research include monetary policy, central banking, and financial sector reform in economies in transition. He has been a research associate at the National Bureau of Economic Research, a senior economic advisor to the East West Institute, and a consultant to the Bank of Israel, the IMF and the World Bank. Wachtel is the co-editor of Comparative Economic Studies and serves on the editorial boards of several other journals. He received his undergraduate degree from Queens College, City University of New York, USA, and his MA and PhD degrees from the University of Rochester, USA.
International banking is critical for the growth of emerging market economies, but the recent global financial crisis has demonstrated the vulnerabilities that foreign-owned banks can impose on such economies. This book, a collection of seminal papers published by Palgrave and compiled from the journal Comparative Economic Studies, examines how and why foreign banks enter emerging markets and explores the risks and benefits foreign banks bring to the host countries. These papers also investigate possibilities for regulating the financial sector in emerging market economies, and discuss what can be done in terms of national and international efforts to strengthen bank regulation to prevent future crises. Global Banking Crises and Emerging Markets is essential reading for professionals, scholars, policy makers, and researchers.
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