Emerging Market Capital Flows

Proceedings of a Conference held at the Stern School of Business, New York University on May 23–24, 1996

  • Richard M. Levich

Table of contents

  1. Front Matter
    Pages i-xiii
  2. The history of emerging markets: What have we learned?

  3. Returns on emerging market equities

    1. Front Matter
      Pages 83-83
    2. Roy C. Smith, Ingo Walter
      Pages 85-105
    3. Geert Bekaert, Claude B. Erb, Campbell R. Harvey, Tadas E. Viskanta
      Pages 107-173
    4. Ian Domowitz, Jack Glen, Ananth Madhavan
      Pages 175-192
    5. William N. Goetzmann, Philippe Jorion
      Pages 193-197
  4. Integration of emerging markets and international equity markets

    1. Front Matter
      Pages 217-217
    2. Holger C. Wolf
      Pages 219-235
    3. Robert E. Cumby, Anya Khanthavit
      Pages 237-257
    4. Robin L. Diamonte, John M. Liew, Ross L. Stevens
      Pages 277-289
  5. Lending on ‘fixed’ terms in emerging markets: bank lending and sovereign debt

  6. Topics in corporate debt and emerging markets

    1. Front Matter
      Pages 389-389
    2. Edward I. Altman, John Hartzell, Matthew Peck
      Pages 391-400
    3. Oliver Hart, Rafael La Porta Drago, Florencio Lopez-de-Silanes, John More
      Pages 401-419
  7. Back Matter
    Pages 443-475

About this book


In a little over one decade, the spread of market-oriented policies has turned the once so-called lesser developed countries into emerging markets. Many forces have been responsible for the tremendous growth in emerging markets. Trends toward market-oriented policies that permit private ownership of economic activities, such as public utilities and telecommunications, are part of the explanation. Corporate restructuring, following the debt crisis of the early 1980's has permitted many emerging market companies to gain international competitiveness. And an essential condition, a basic sea-change in economic policy, has opened up many emerging markets to international investors.
This growth in emerging markets has been accompanied by volatility in individual markets, and a sector-wide shock after the meltdown in the Mexican Bolsa and Mexican peso, resulting in heated debate over the nature of these markets. Emerging market capital flows continue to be the subject of intense discussion around the world among investors, academics, and policymakers. Emerging Market Capital Flows examines the issues of emerging market capital flows from several distinct perspectives, addressing a number of related questions about emerging markets.


Bank Financing Hedging economic policy growth rating

Editors and affiliations

  • Richard M. Levich
    • 1
  1. 1.Stern School of BusinessNew York UniversityUSA

Bibliographic information

  • DOI
  • Copyright Information Kluwer Academic Publishers 1998
  • Publisher Name Springer, Boston, MA
  • eBook Packages Springer Book Archive
  • Print ISBN 978-1-4613-7841-9
  • Online ISBN 978-1-4615-6197-2
  • Series Print ISSN 1387-6899
  • Buy this book on publisher's site