Introduction -- Overview of regulations, historical & current -- Capital flows from the 1990s-current day -- GDP growth rates for advanced economies and selected emerging markets including the BRICS -- Analysis of Brazil's economy relative to its capital flows -- Analysis of Russia's economy...

"If interest rates (country spreads) rise, debt can rapidly be subject to a snowball effect, which then becomes self-fulfilling with regard to the fundamentals themselves. This is a market imperfection, because we cannot be confident that the unaided market will choose the good equilibrium' over...