"This insightful analysis of what went wrong in Latin America's capital markets since the 1990s is a must read for anyone interested in financial markets, international finance, or economic development. I learned an enormous amount from reading Emerging Capital Markets and Globalization and will recommend it highly to students and colleagues."--Ross Levine, Brown University

Augusto de la Torre is Senior Regional Financial Sector Advisor for Latin America and the Caribbean. Sergio Schmukler is a Senior Economist in the Development Research Group of the World Bank.