"Moral Hazard is a core concept in economics. In a nutshell, moral hazard reflects the reduced incentive to protect against risk where an entity is (or believes it will be) protected from its consequences, whether through an insurance arrangement or an implicit or explicit guarantee system. It...

pt. 1. The importance of finance in emerging market economies -- pt. 2. Domestic finance and policies in emerging markets -- pt. 3. International finance in emerging markets -- pt. 4. Describing financial systems in emerging regions of the world -- pt. 5. Conclusions.

"Since the 1990s, several emerging market and developing economies (EMDEs) have, to varying degrees, embraced the process of financial globalisation, broadly defined as a set of policies that involve allowing for greater openness to cross-border capital flows as well as greater market access to...