The world's financial markets experienced a strong globalization trend in the twentieth century. With the removal of barriers to cross-border flow of capital, financial markets have become truly global during the last two decades of the century. The research papers included in this book study a number of important current issues in the world's financial markets. The recent emerging markets crisis, which started in Southeast Asia and affected all the world's developed and emerging financial markets, is studied in detail. Another important issue, which receives considerable coverage in the book, is the European financial integration. The financial markets in the United States, Europe, Asia, and Latin America are studied extensively and the linkages between them are analyzed. The objective of the book is to provide the reader with a comprehensive and balanced overview of the world's financial markets at the end of the twentieth century.