Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/18025
Authors: 
Bordo, Michael D.
Year of Publication: 
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: 
Creative Commons License: 
http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type: 
Article

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