The historic European Union Directive on Data Protection will take effect in October 1998. A key provision will prohibit transfer of personal information from Europe to other countries if they lack "adequate" protection of privacy. If enforced as written, the Directive could create enormous...

The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference,...