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These markets face a "two steps forward, one step back" approach to financial liberalization, Mr. Villamin said.
No one's view has improved but everyone is a lot less comfortable.Foreign-exchange markets face a similar issue at the moment.
An example of "identity-protective cognition" in this case, the authors explain, is where people who advocate for small governments and "free markets" face a dilemma.
Then the markets face a different threat.
Oil prices in 2009 will be defined by the Chinese economy, as Western economies struggle with recession and emerging markets face a slowdown.
Although it lifted the ban at the beginning of the year, China's markets face a backlog of several hundred companies waiting to go public.
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Women leaders in these markets face an especially complicated set of challenges since, in many regions, expectations of what projects integrity skews by gender.
Economic growth remained strong and the current-account deficit soared.Asia's emerging markets faced a much bigger bust, and had fewer policy tools to deal with it.
But emerging markets have come a long way in the past 10 years and are spearheading the global economy to the point where they are no longer fledgling markets facing a teenage growth spurt.
George Soros, the speculator who drove Britain out of the exchange rate mechanism, has warned that the UK markets faced a Black Friday in the event of a Brexit vote.
With eurozone growth disappointing and some emerging markets facing a tough time, firms need to look harder for opportunities to ramp up exports to high-growth sectors across the globe".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com