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Institut für Weltwirtschaft (IfW), Kiel >
Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles >
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http://hdl.handle.net/10419/18025
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| Title: | | Growing up to Financial Stability  |
| Authors: | | Bordo, Michael D. |
| Issue Date: | | 2008 |
| Citation: | | [Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 2 [Issue:] 2008-12 [Pages:] 1-17 [DOI/URN:] doi:10.5018/economics-ejournal.ja.2008-12 |
| Series/Report no.: | | economics - The Open-Access, Open-Assessment E-Journal 2008-12 |
| 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: | | O1 F4 G2 N1 |
| Persistent Identifier of the first edition: | | doi:10.5018/economics-ejournal.ja.2008-12 |
| URL of the first edition: | | http://www.economics-ejournal.org/economics/journalarticles/2008-12 |
| Creative Commons License: | |  |
| Document Type: | | Article |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles
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