In the last few decades, the forces giving rise to global markets have reached unprecedented heights. This important book explores the new role that markets are playing in developing countries, from the strategic perspective of a firm and from a public policy perspective. Most of the important works on marketing in developing countries were written before the globalization era. As such, many of the important questions that this book seeks to answer about the appropriateness of market-led development have not been posed: What are the distributional implications of markets? With privatization, who is responsible for managing the consequences of market failure? Can we rely on corporate social responsibility? Beyond creating an enabling environment, what is the appropriate role for the state in dealing with the negative consequences of markets (i.e. social dislocation, marginalization of the poor, and environmental deterioration)? Can new institutions be designed to help manage those negative consequences?The book makes use of economic theory to inform public policy and private strategies that deal with the many issues surrounding markets in developing countries. It also provides frameworks for examining the effectiveness of marketing strategies for entering emerging markets, and for identifying the challenges and opportunities for firms in developing countries to access matured markets in industrial nations.