Firms always encounter risks in the process of production, distribution and marketing due to the structure of the firms, market conditions, or some unforeseen circumstances such as natural catastrophe. Instruments have been developed to help firms deal with such risks, and futures contracts are...

The Asian financial crisis had a profound impact on the global economy. Growth is expected to be slower; risks are higher; and the international flows of capital have been dislocated. Above all, it has set out forces of new conditionality surrounding the developmental state, constraining its...