The Economic Paper series is designed to bring to public attention crucial economic issues which are of concern to developing countries. In recent years the series has examined issues such as the instability of capital flows, the position of small states in the global economy, the implications of new trade agreements, agriculture and food security, money laundering and the reform of global financial arrangements. The publications are readable and aimed at academics, policymakers, students and people with a general interest in understanding these topical issues. This publication incorporates the papers and proceedings of a Banking and Financial Services Symposium held in London in July 2002 on Enhancing Private Capital Flows to Developing Countries in the New International Context. Organised in conjunction with the World Bank and the Commonwealth Business Council, its aim was to promote an understanding of the developing country and private sector perspectives in attracting private capital flows; the impact of international codes and standards in defining the perception of the private sector and practical issues regarding their implementation; and the new regulatory developments which are likely to impact on the availability of private capital flows.