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| Table of Contents | |
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| Note from the Editors | |
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| Contributors | |
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| Acknowledgments | |
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| A Financial Architecture for Middle-Class-Oriented Development (Mead and Schwenninger) | |
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| Executive Summary | |
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| The Case for Middle-Class-Oriented Development | |
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| Obstacles to Middle-Class-Oriented Development | |
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| Toward a New International Financial Architecture | |
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| Conclusion: The Politics of International Financial Architecture | |
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| Making Dollarization Work | |
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| Private Capital Flows, Emerging Economies, and International Financial Architecture (Yago) | |
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| Introduction | |
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| Contagion as Metaphor | |
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| The Integration of Global Capital Markets | |
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| Deconstructing Global Financial Architecture Proposals | |
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| Building the Financial Infrastructure for Middle Class Emerging Economies (D'Arista) | |
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| Introduction | |
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| Building on Past Structures and Programs | |
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| Building on Existing Structures and Trends | |
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| Structuring Pension Funds in Emerging Economies for Growth and Development | |
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| Reforming the International Monetary and Financial Architecture to Promote Domestic Demand-Driven Growth in Emerging Economies | |
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| Conclusion | |
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| Capital Flows and the International Financial Architecture (Eatwell and Taylor) | |
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| Capital Flows and the International Financial Architecture | |
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| Liberal Capital Markets in History | |
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| The Breakdown of Financial Regulation | |
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| Actual and Potential Problems in Industrialized Economies | |
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| The Performance of the Private Sector | |
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| The Performance of the Public Sector | |
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| Governments in Search of Credibility | |
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| The Position of the United States | |
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| The American Predicament | |
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| External Dangers? | |
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| Developing and Transition Economies | |
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| Exchange Rates | |
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| Dealing with the Problems At Hand | |
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| Bands | |
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| Capital Controls | |
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| Managing Global Financial Risk | |
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| A World Financial Authority | |
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| Macroeconomic Regulation and Risk Management | |
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| Microeconomic Regulation and Risk Management | |
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| The Way Forward | |
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| Bibliography | |
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| Solving the Currency Conundrum (Eichengreen) | |
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| Introduction | |
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| Going to Extremes | |
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| The Backlash | |
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| Which Alternative? | |
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| Monetary Union | |
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| Achieving Greater Flexibility in Emerging Markets | |
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| G-3 Target Zones | |
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| How the International Monetary System Will Look in Twenty Years | |
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| The Diminishing Returns to Export-Led Growth (Blecker) | |
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| Prologue: The Sudden Collapse of the Export-Led Economies | |
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| The Hypothesis: Statement and Qualifications | |
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| Literature Survey: Studies of Exports, Growth, and the Fallacy of Composition | |
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| Empirical Plausibility: A Preliminary Look at Export Growth Trends | |
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| Policy Implications: Which Way Out of the Dilemma? | |
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| The American Stock Market as a Financial Risk: A Discussion of Historic and Demographic Risks (Dugger, McNally and Medley) | |
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| Introduction | |
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| Trade, Development, and the Post-Cold War Transition | |
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| Household Balance Sheets and Generational Deleveraging | |
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| Macroeconomic Forecasts Including a Major Market Decline | |
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| Concluding Comments | |
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| Bibliography | |
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| Appendix | |
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| Reforming and Deepening Mexico's Financial Markets (Lopez-de-Silanes) | |
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| Introduction | |
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| Legal Protection for Investors | |
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| Enforcement of Laws | |
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| Consequences of Investor Protection | |
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| Reforms for Deepening Mexico's Financial Markets | |
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| Conclusion and Policy Implications | |
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| Tables | |
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| Bibliography | |
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| Economic Crisis and Corporate Reform in East Asia (Woo-Cumings) | |
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| Economic Crisis and Corporate Reform in East Asia | |
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| Northeast and Southeast Asia between the State and the "Sib-Fetters" of the Economy | |
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| Corporate Governance in Korea | |
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| Concentration and Diversification in the Korean Chaebol | |
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| Family Governance, Trust and Rule by Regulation | |
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| Family Governance: Part of the Problem or Part of the Solution? | |
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| Efforts at Corporate Reform in Korea | |
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| The Politics of Ethnicity and Corporate Governance in Southeast Asia | |
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| Conclusion | |
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| Bibliography | |
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| Cultural Contradictions of Post-Communism: Why Liberal Reforms Did Not Succeed in Russia (Khrushcheva) | |
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| Introduction | |
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| Russia's Bottom: The Culture of Envy | |
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| Russia's Top: Privatization Russian Style | |
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| Russia's Middle: Voices of Reason | |
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| Conclusion | |
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| Bibliography | |
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| Korea's Comeback: The Government's Predicament (Root) | |
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| Introduction | |
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| Financial System Reform | |
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| Business Reform | |
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| Labor Reform | |
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| Bibliography | |
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| Sustainable Development and the Open-door Policy in China (Galbraith and Lu) | |
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| Introduction | |
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| Budget Deficits and Cultural Revolution | |
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| Bottlenecks and Heavy Industry | |
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| The Agricultural Reform | |
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| Auxiliary Reforms in Light Industry and Commerce | |
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| The Second Phase: Urban Economic Reform 1984-88 | |
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| The Transitory Period (1988-91): Adjustment and Crisis | |
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| The Third Round of Reforms: 1992-97 | |
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| The Open Door Policy - What Was It? | |
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| The Role of the Open Door Policy | |
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| The Crisis of the 1990s | |
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| The Outlook and What is Required? | |
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| Bibliography | |
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| The Paradox of Free Market Democracy: Indonesia and the Problems Facing Neoliberal Reform (Chua) | |
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| Introduction | |
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| Background | |
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| Indonesia | |
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| Policy Implications | |