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Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers >
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http://hdl.handle.net/10419/17956
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| Title: | | Growing up to Financial Stability  |
| 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 globalization financial development institutions |
| JEL: | | N1 G2 F4 O1 |
| Creative Commons License: | |  |
| Document Type: | | Working Paper |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers
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