Finance and development : issues and experience

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Finance and development : issues and experience

edited by Alberto Giovannini

Cambridge University Press, 1993

Available at  / 43 libraries

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"A selection from the papers presented at the conference on "Finance and Development in Europe," jointly sponsored by the Centre for Economic Policy Research and the Xunta de Galicia ... [and held] in Santiago de Compostela on 13-15 December 1991"--Pref

Includes bibliographical references and index

Description and Table of Contents

Description

Progress towards economic and monetary union in Western Europe has highlighted the importance of regional policies, while events in Eastern Europe have focused attention on the role of finance in development and may lead to a substantial diversion of capital flows. This volume from the Centre for Economic Policy Research addresses the relationships between growth, convergence, and capital market imperfections. Theoretical papers shed light on the debates over the role of financial structure in economic development and the scope for government intervention to promote regional development. Highly topical empirical papers examine the relationship between international lending and economic development in a historical perspective; the experience of regional policies in the European Community, and of financial liberalization in high-growth East Asian economies; and the development of financial markets in Eastern Europe.

Table of Contents

  • 1. Introduction Alberto Giovannini
  • Part I. The Role of Finance in Economic Development: 2. International finance and economic development Paul Krugman
  • 3. A theory of financial development Oren Sussman
  • 4. Capital market imperfections and regional economic development Bruce C. Greenwald, Alec Levinson and Joseph E. Stiglitz
  • 5. Convergence in the closed and in the open economy Daniel Cohen
  • Part II.A. Case Studies - Financial Markets and Economic Development: 6. The role of finance in economic development in South Korea and Taiwan Yung Chul Park
  • 7. Finance and development: the case of Southern Italy Riccardo Faini, Giampaolo Galli and Curzio Giannini
  • Part II. B. Case Studies - Government Policies: 8. Macroeconomic control in liberalizing socialist economies: Asian and European parallels Ronald I. McKinnon
  • 9. Regional imbalances and government compensatory financial flows: the case of Spain Juan Ramon Cuadrado, Guillermo de la Dehesa and Andres Precedo
  • Part III. Development Finance: 10. Financing and development in Eastern Europe and the former Soviet Union: issues and institutional support Philippe Aghion and Robin Burgess
  • 11. Overview Joseph E. Stiglitz.

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