The book addresses senior policy makers interested in understanding and debating key issues currently faced by the better performing emerging markets throughout the world. Papers in the volume address international capital flows, financial markets, globalization, and private participation in infrastructure development.

The papers included in this book were among those discussed at the Emerging Markets Forum meeting in Jakarta, Indonesia in September 2007. The underlying premise of the book is that growth and development in emerging market economies is now heavily dependent on: international private capital flows; development of financial markets; the countries ability to integrate successfully with the global economy through trade and investment; and their ability to forge public private partnership, including, in infrastructure development. A particular emphasis is on contrasting and comparing experiences in Asia and Latin America.

Building National and Regional Financial Markets: The East Asian Experience
Building national and regional financial markets: The East Asian experience
AndrewSheng
Introduction

In the year 2007 we marked the 10th anniversary of the Asian financial crisis. So where are we now? Where do we go from here? Or rather, why can't we move faster towards where we want to go?

Kristof and WuDunn (2001), writing in Thunder from the East: ‘It (the Asian crisis) entailed a terrible human cost, but it is also helping to destroy much of the cronyism, protectionism and government regulation that had burdened Asian business. The crisis helped launch a political, social and economic revolution that is still incomplete but that ultimately will reshape Asia as greatly as the fall of the Berlin wall reshaped ...

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