This book analyzes the new trends in capital flows to emerging markets since the Asian crisis, their determinants and policy implications. It explains why such flows have declined so dramatically in recent years, emphasising both structural and cyclical factors. Senior bankers, regulators, and...

Unanticipated consequences -- Bounded rationality and the spread of investment treaties -- A difficult beginning -- Promoting investment treaties -- A less then rational competition -- Narcissistic learning -- Letting down the guard : a case study -- Expanding the bounds of rationality in the...