Jeffrey C. Hooke Emerging Markets A Practical Guide for Corporations, Lenders, and Investors John Wiley and Sons, New York, 2001, xv + 283 pp., $79.95 (cloth).

The turbulence of the late 1990s in emerging markets has tempered the enthusiasm of many Western investors. In this new climate, it is more important than ever for developing countries to attract foreign investment to achieve economic advancement and poverty reduction.


In this book, Jeffrey Hooke, a former investment officer with the International Finance Corporation who now heads his own investment banking firm, provides both Western investors and development professionals with a comprehensive guide to the various opportunities and pitfalls associated with that they can encounter in dealing with emerging markets. He defines what emerging markets are (and what they are not) and discusses why multinational firms should invest in them, reviewing some of the obstacles to investment, including hidden barriers to entry, capricious government actions, sudden setbacks in a country's economic performance, devaluations, and the lack of information. His account is illustrated by descriptions from his own experiences and those of other investors in Africa, Asia, Eastern Europe, and Latin America.