FERNANDO CARDIM DE CARVALHO Institute of Economics, Federal University of Rio de Janeiro (UFRJ)RICARDO GOTTSCHALK Research Fellow, Institute of Development Studies (IDS)HANSJÖRG HERR Professor of Supranational Integration, Berlin School of Economics, University of Applied Sciences (FHW Berlin)JAN KREGEL Former Head, Policy Analysis and Development Branch of the United Nations Financing for Development Office; Distinguished Research Professor, Centre for Full Employment and Price Stability, University of Missouri, Kansas City; Adjunct Professor, International Economics, John Hopkins University School of Advanced International StudiesJAN PRIEWE Professor of Economics, University of Applied Sciences (FHTW Berlin)SUNANDA SEN Academy of Third World Studies, New Delhi; Visiting Professor, Jamia Millia Islamia University, New Delhi CECILIA AZEVEDO SODRE Special Adviser, Secretary of Poverty Reduction, Secretary of Government, Espírito Santo, BrazilFATIMA CARDIAS WILLIAMS Scientist, European Plant Science, Bangor, UKJONATHAN WILLIAMS Senior Lecturer in Banking and Finance, Bangor Business School, Bangor University, Bangor, UK

• Introduction; P.Arestis & L.F.de Paula Financial Liberalisation and Domestic Policy Space: Theory and Practice with Reference to Latin America; J.Kregel Capital Account Management or Laissez-faire of Capital Flows in Developing Countries; J.Priewe Financial Liberalisation, Exchange Rate Regimes and Economic Performance in BRICs Countries; L.F.de Paula The Liberalization of Capital Outflows in Brazil, India and South Africa since the Early 1990s; R.Gottschalk & C.A.Sodré Financial Liberalisation in Brazil and Argentina; F.J.C.de Carvalho Capital Controls and Economic Development in China; H.Herr De-regulated Finance and Impact on Corporate Investments: The Case of Industry and Labour in India; S.Sen Does Ownership Explain Bank M&A? The Case of Domestic Banks and Foreign Banks in Brazil; F.C.Williams & J.Williams