Juan Pablo Painceira is Senior Advisor in the Open Market Operations Department (DEMAB) at the Brazilian Central Bank (BCB).

PART I Setting the scene on financialisation in emerging market economies - financialisation and liquidity management: challenges to central banking in contemporary capitalism 1 Some notes on financialisation and a brief outline of the book; 2 Political economy of financialisation: considerations on banks; 3 Political economy of central banks: loanable capital movement and inflation-targeting regime; 4 Emerging economies in the era of financialisation: from deficit accumulation to reserve accumulation; PART II Major emerging markets' experiences across the global financial markets 5 A political economy analysis of central banks in the Brazilian and Korean economies: reserve accumulation, global financial crisis and monetary quantitative easing; 6 Loanable capital movement in Brazil and South Korea: impacts on banks' balance sheet and some considerations on economic development; 7 Loanable capital movement in selected emerging market economies countries: international capital flows, reserve accumulation, impacts on banks' portfolio and some considerations on economic development