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This paper discussed some of the key areas in Emerging-Markets Finance. Since the publication of the previous JIMF Special Issue on Emerging-Market Finance in May 2006, the focus of papers has shifted from investigating the impact of liberalization on financial decisions and the economy to the impact of poor institutions, political uncertainty, lack of transparency and poor corporate governance. That reflects market participants' sensitivity to these issues in the increasing uncertain economic environment. It is hoped that the topics in this volume will prove of interest not only to researchers, but also to practitioners and regulators.
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