The emphasis of this book is on understanding special characteristics of the financial systems of emerging markets, where the existence of market imperfections such as asymmetric information, adverse selection and moral hazard can cause financial market failures. Considering the Thai stock...

The U.S. dollar has served as the key currency of the international economic/financial system for over fifty years. This study assesses the proposition that the series of U.S. current-account deficits over the last twenty years will shortly exhaust the capability of the dollar to continue as the...