Dilip Das examines the impact of ever increasing financial globalization on emerging market economies, both in the former communist countries of Eastern Europe and the developing world in general.

1 The emergence of emerging market economies 2 Global capital flows to emerging market economies 3 Financial liberalization in the emerging market economies: growth, volatility, or both? 4 Evolving financial market structure in the emerging market economies 5 Financial and macroeconomic instability in the emerging market economies 6 Financial globalization and the contagion effect 7 Global financial architecture and financial and regulatory infrastructure