Some scholars argue that the free movement of capital across borders enhances welfare; others claim it represents a clear peril, especially for emerging nations. In Capital Controls and Capital Flows in Emerging Economies, an esteemed group of contributors examines both the advantages and the...

Over the past two decades, the percentage of the world's population living on less than a dollar a day has been cut in half. How much of that improvement is because of-or in spite of-globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on...