Global liquidity as a new trend in international capital flows -- Destination of Global Liquidity before the Global Financial Crisis: Role of Foreign Bank Presence and the EU Effect -- Global Liquidity and Reallocation of Domestic Credit -- Global Financial Crisis and Demand for the US Dollar as...

Contents: 1. Introduction / Gerald Epstein -- Part I Capital flows and financial crises -- 2. Financial crises among emerging and developing economies in the modern era: a brief history and some stylized themes / Elissa Braunstein -- 3. Too good to be true: what the Icelandic crisis revealed...

The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes...

The terms of the debate: what's democracy got to do with it? / Leslie Elliott Armijo -- Global financial architecture and hegemonic leadership in the new millennium / Mark R. Brawley -- Capital controls: why do governments hesitate? / Benjamin J. Cohen -- Reforming the international financial...