The book discusses the different experiences in Asia and Latin
America, while covering the closely related areas under the purview of
Emerging Market Economies (EMEs). The first chapter, “Introduction and
Overview” has written by Harinder S. Kohli gives an excellent review of
the existing literature on the subject. The book discusses six related
topics which include nine papers presented at the Emerging Markets Forum
Meeting held in Jakarta, Indonesia, in September 2006. The book
highlights the main factors of growth and development in Emerging Market
Economies (EMEs) now closely related with international capital flows,
development of financial market, the countries’ ability to integrate
successfully with the global economy through trade and investment and
their ability to forge public-private partnerships including
infrastructure development. Chapter 2, of the book is an article titled
“Global Imbalances, Oil Revenues and Capital Flows to Emerging Market
Countries” by Jack Boorman explains the favourable global environment
and its impact on capital flows to Emerging Market Countries (EMCs). The
EMCs got advantage from this benign global economic environment, such as
high economic growth rate, increase in exports, better national balance
sheet and increase in foreign exchange reserves, but due to high oil
prices the situation has been changed.
Economic Development in the Western Balkans: On the Road to Competitive Market Economies?