The Inexorable Evolution of Financialisation ─ Financial Crises in Emerging Markets

Since the 2007 financial crisis, discussion on issues related to the size, spread and frequency of financial crises has captivated a wide variety of audiences. Why has the world economy experienced such an increase in financial transactions and private and public indebtedness since the 1980s? How have middle-income developing countries suddenly become a part of this dynamic? And, most importantly, how has the topic of financial crises been featured in households' daily discussions in both developed and developing parts of the world?

Domna Michailidou addresses the questions above through exploring the inexorable evolution of financialisation into financial crisis through the examination of three countries: Mexico, Brazil and South Korea. Concentrating on emerging economies, and especially choosing three very different economies that all experienced financial crises in the 1990s, this book explores what lessons can be learnt regarding financial fragility, volatility and failure in the wake of capital market liberalisation.

Domna Michailidou works for the OECD Economics Division focusing on the Greek financial crisis. She has a PhD from the Centre for Development Studies in the University of Cambridge, UK, where she lectures and teaches Economic Development at both undergraduate and graduate levels. Currently, Domna is also a research fellow at the Judge Business School's Middle East Research Group and a teaching fellow at UCL's School of Public Policy, UK.