Recent developments in a number of emerging economies have heightened interest in the relationship between macroeconomic management and financial regulation, in an environment of open capital accounts and large-scale movements of private capital. The authors analyze the Turkish experience with...

The authors examine how the economic interactions between rapidly emerging China and the rest of the world may evolve over the coming two decades. They discuss China's growth potential, drawing a parallel between China's rise and the historical rise of Britain, Japan and the United States....

Programs to develop securities markets are now a common feature of World Bank financial sector loans. Stock market development in particular is receiving considerable attention, especially the legal and institutional underpinnings required for successful stock market development. The financial...