Globalization of Capital Markets and Monetary Policy

JENS H LSCHER is Reader in Economics at the University of Brighton, where he is also Course Leader of the BA (Hons) International Finance and Capital Markets Studies and Head of the Research Group Economic and Social Transition. Previously he taught at the Universitites of Berlin, Swansea, Birmingham and Chemnitz. He held Visiting Professorships at the Universities of Halle (IWH), Bonn (ZEI), Bozen, Ottawa in Cairo, Almaty (KIMEP) and the Centre of Economic Research at the Deutsche Bundesbank. He is interested in monetary and transition economies, both areas in which he has published widely. H

Globalization of capital markets has received new momentum and it will continue to be of major importance for the years to come. But in addition to this underlying trend, the worldwide collapse of socialist systems and the opening up of big economies like India and China have fuelled the development of globalized capital markets.Globalization of capital markets has received new momentum and it will continue to be of major importance for the years to come. Partly, the increasing integration of financial markets and the rise of foreign direct investment is a consequence of world trade expansion. But in addition to this underlying trend, the worldwide collapse of socialist systems and the opening up of big economies like India and China have fuelled the development of globalized capital markets. This book takes stock of recent developments with emphasis on emerging capital markets.