In Brave New Wealthy World, leading capital markets expert John C. Edmunds argues that global economic conditions are improving, and that the benefits of economic growth will reach virtually everyone on earth--including billions who have been left behind until now. Edmunds identifies the key mechanisms that will deliver these benefits: the modernization of defective national financial systems, and securitization: the transformation of illiquid assets into securities that can be traded at will amongst investors anywhere on Earth. He also projects significant improvements in services-based job creation linked to changing population trends, as well as enhanced rates of return on cross-border investment in emerging markets. Edmunds describes viable new structures for investment in poor countries, and proposes a new symbiotic relationship between rich and poor countries that offers powerful benefits to both. While he doesn't expect wealth disparities or boom/bust cycles to disappear, he demonstrates that today's international financial arrangements are delivering unprecedented prosperity and well-being--and spreading their benefits far more widely than critics ever thought possible.
JOHN C. EDMUNDS is Professor of Finance and Research Director of the Institute for Latin American Business Studies at Babson College. He has taught extensively at overseas MBA programs, including Instituto de Empresa in Madrid, Spain, INCAE in Central America and La Universidad Catolica Madre y Maestra in the Dominican Republic, and two universities in Chile. He has also taught at other schools in the Boston area, including Boston University, the Fletcher School of Law and Diplomacy, Harvard University, Hult International Business School, and Northeastern University. He is a member of the Golden Key Society and at Arthur D. Little he was voted Professor of the Year. He has lived in six countries and spent eighteen years abroad. He is fluent in Spanish and also speaks French.
Dr. Edmunds's areas of interest are international finance, capital markets, and emerging markets. He is the author of over 250 articles and cases published both in academic and practitioner journals. He has published four books. Over a hundred of his articles are about Latin American capital markets and have been published in Spanish, including "Rescate y Recuperacion," America Economia January, 2009; "Financiar a Emprendedores," Estrategia, January 20, 2006; "Cayendo al Segundo Lugar?" El Diario Financiero, July 7, 2005; "Iberoamerica necesita un Davos propio," Expansion, Madrid, Espana, June 20, 2005; "El Auge de la Bolsa en Chile como Impulsor del Crecimiento" (Parte I & II,) in El Diario Financiero, September 2004; and "El Valor Escondido de America Latina," in America Economia, July 2001.
Dr. Edmunds holds a D.B.A. in International Business from Harvard Business School, an M.B.A. in Finance and Quantitative Methods with honors from Boston University, an M.A. in Economics from Northeastern University, and an A.B. in Economics cum laude from Harvard College. He has consulted with the Harvard Institute for International Development, the Rockefeller Foundation, Stanford Research Institute, and numerous private companies.
