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Title:Growing up to Financial Stability PDF Logo
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
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
Creative Commons License:http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type:Article
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles

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