"Capital Without Borders: Challenges to Development contains selected papers from the Annual Conference on Development and Change (ACDC) held at Sao Paulo in November 2006. Second in a series of three conferences, the 2006 ACDC showcased research by relatively younger scholars. While precise and...

This volume examines different facets of international capital movements - the role of openness, the implications of large inflows of foreign capital and the impact of regulatory frameworks - from the point of view of the global South.

This paper examines the mainstream theories of "financial sustainability" and "financial development". It is suggested understanding "financial development" as the complex dynamic characteristics of the financial sector, which is formed under the influence of financial and economic policy...