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Title:Growing up to Financial Stability PDF Logo
Authors:Bordo, Michael D.
Issue Date:2007
Series/Report no.:Economics Discussion Papers / Institut für Weltwirtschaft 2007-33
Abstract:This lecture revisits the evidence on the incidence and severity of different varieties of financial crises within the context of globalization then (pre-1914) and now (1980 to the present). I then discuss the determinants of emerging market crises from the perspective of the recent balance sheet approach. This approach puts at center stage the importance of financial development. I then peel the onion back further and consider the ?deep? institutional determinants of financial development and their relationship to financial stability. I conclude by conjecturing about the ways countries learn from their financial crises to improve their institutions and grow up to financial stability.
Subjects:financial crises
financial development
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Document Type:Working Paper
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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