Global Banking Crises and Emerging Markets

The recent global financial crisis has brought to the fore the risks that accompany the benefits of global banking for emerging market economies. This book, a collection 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. The risks created by the presence of foreign banks are also evaluated from a number of standpoints. Finally, the book discusses what can be done in terms of national and international efforts to strengthen bank regulation to prevent future crises.

It is essential reading for professionals, scholars, policy makers, and researchers.

Josef C. Brada is Professor of Economics emeritus 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 and a PhD from the University of Minnesota.

Paul Wachtel is Professor of Economics and Academic Director, BS in Business and Political Economy Program at the Stern School of Business, New York University, USA. He teaches courses in global business and economics, monetary policy and banking, and the history of enterprise systems. 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, CUNY, and his MA and PhD degrees from the University of Rochester.