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Conclusion: Financial Markets and the Memory of the Future

  • Javier Santiso
Chapter
  • 37 Downloads
Part of the The CERI Series in International Relations and Political Economy book series (CERI)

Abstract

Emerging markets themselves are hardly new. Once countries like the United States, Japan and Argentina were emerging markets. Over the past century some changed status, reaching the financial nirvana of the investment grade, the economic paradise of the developing world. Others are still emerging, and from time to time, submerging. At the heart of the “emerging markets” notion is probably the one of a promise, a credible promise of a great transformation, a successful story that became a reality: a developed country.

Keywords

Political Economy Financial Market Mutual Fund Institutional Investor Pension Fund 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 1.
    Richard Sylla, “Emerging markets in History: the United States, Japan and Argentina,” in R. Sato et al., eds., Global Competition and Integration, Boston, Kluwer Academic Publishing, 1999.Google Scholar
  2. 3.
    Barry Eichengreen and Albert Fishlow, “Contending with Capital Flows: What is Different About the 1990s?” in Miles Kahler, ed., Capital Flows and Financial Crises, Ithaca, Cornell University Press, 1998, pp. 23–68.Google Scholar
  3. 4.
    See Philippe Martin and Hélène Rey, “Financial Globalization and Emerging Markets: With or Without Crash?” Federal Reserve Bank of New York and Princeton University, May 2002.CrossRefGoogle Scholar
  4. 9.
    See the analysis of Luc Laeven and Enrico Perotti, “Confidence Building in Emerging Stock Markets,” CEPR Discussion Paper, No. 3055, November 2001.Google Scholar
  5. 20.
    Figures collected by Philippe Delmas, Le maître de horloges. Modernité de l’action publique, Paris, Odile Jacob, 1991, p. 97Google Scholar
  6. 22.
    For a history of instruments measuring time, one can refer to the work of Arno Borst, The Ordering of Time. From Ancient Computus to the Modern Computer, Chicago, Chicago University Press, 1993Google Scholar
  7. 23.
    Paul Valery, Regards sur le monde actuel et autres essais, Paris, Gallimard, 1945.Google Scholar
  8. 24.
    Stephen Hawking, Brief History of Time. From the Big Bang to Black Holes, London, GK Hakk & Co., 1989.Google Scholar
  9. 26.
    On these temporalities see also Jean-Pierre Dupuy, “Convention et common knowledge,” Revue Economique, vol. 40, no. 2, 1989, pp.361–400Google Scholar
  10. 27.
    See Frédéric Lordon, Les quadratures de la politique économique, Paris, Albin Michel, 1997.Google Scholar
  11. 31.
    See Fernand Braudel, Ecrits sur l’histoire, Paris, Flammarion, 1969, p. 22.Google Scholar

Copyright information

© Javier Santiso 2003

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  • Javier Santiso

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