This two volume set presents a wide-ranging selection of important articles, which explore the effects of the globalization of the world economy on developing and newly industrialized countries. It investigates policies of liberalizing trade in developing countries and the effects of the inflow of capital and investment; it explores how the trend towards developing regional trading areas in for example, Europe, the Americas and the Pacific area, affects and is affected by globalization. Further topics include the role of multinational firms, the effects of the economic decisions taken by worldwide organizations or by the institutions of the major economic players, and the impact of global policy issues such as environment and trade on emerging economies.