Table of Contents -- Part I: Introduction -- 1 Introduction -- Part II: Global Questions -- 2 A World Financial Authority -- 3 Recasting the International Financial Agenda -- 4 Financial Regulation in a Liberalized Global Environment -- 5 Capital Controls and the World Financial Authority: What Can We Learn from the Indian Experience? -- 6 International Capital Mobility, Macroeconomic Imbalances, and the Risk of Global Contraction -- 7 The Politics of Global Financial Regulation: Lessons from the Fight Against Money Laundering -- Part III: Issues in Industrialized Economies -- 8 Financial Market Liberalization and the Changing Character of Corporate Governance -- 9 The Influence of the Financial Media over International Economic Policy -- Part IV: Developing and Transition Economies -- 10 Capital Market Liberalization and Economic Performance in Latin America -- 11 FX Short Positions, Balance Sheets, and Financial Turbulence -- 12 The Three Routes to Financial Crises: The Need for Capital Controls -- 13 "Asian Capitalism" and the Financial Crisis -- 14 The Triumph of the Rentiers? The 1997 Korean Crisis in Historical Perspective -- 15 The Magical Realism of Brazilian Economics: How to Create a Financial Crisis by Trying to Avoid One -- Part V: Regulatory Questions -- 16 Synthetic Assets, Risk Management, and Imperfections -- 17 The Role of Derivatives in the East Asian Financial Crisis -- 18 Procyclicality of Regulatory Ratios?.