INTERNATIONAL FINANCE IN EMERGING MARKETS

The book «International Finance in Emerging Markets» reviews contemporary issues in international monetary and financial economics in an emerging financial market using the example of Thailand. The book adopts the elements of new welfare economics and asymmetric information paradigms in analyzing those issues including financial liberalization, crisis, exchange rate determination, and domestic capital market reform. The book suggests for the first time a normative social approach for addressing the contemporary issues in international monetary and financial economics. It provides an example of cutting edge research in international finance and monetary economics within a welfare economics framework. It also suggests some policy implications of the welfare economic analysis of international financial issues in an emerging market.

CONTENTS

Chapter 1: Introduction
Chapter 2: Recent Issues in International Finance: A Literature Review
Chapter 3: Overview of Thailand’s Approach to Financial Liberalisation
Chapter 4: Analysis of Sequencing of Financial Liberalisation in Thailand
Chapter 5: Capital Controls: Consequences of Financial Liberalisation
Chapter 6: Exchange Rate Policy and Its Consequences
Chapter 7: Review of Financial Liberalisation Theory and the Thai Crisis
Chapter 8: A Cost Benefit Analysis Model for Globalisation: Some Social Welfare Implications of Thailand’s Globalisation Process
Chapter 9: Conclusions and Policy Implications

References
Appendix A: Regulatory Agency
Appendix B: Articles of Agreement of the IMF
Appendix C: Chronology of Financial Reforms in Thailand