In 2011, the Environmental Protection Agency and Army Corps of Engineers introduced a draft version of a guidance document that purported to clarify the jurisdiction of the Clean Water Act in accordance with recent Supreme Court Cases. Shortly thereafter, it became clear that the Draft Guidance...

Emerging market economies have undergone an extraordinary period of turbulence in capital markets during the period 1997–2002, and volatility remains a salient feature of the financial landscape.This paper discusses a number of central issues for the future of the region's financial markets....