Political institutions and financial development
Author(s)
Bibliographic Information
Political institutions and financial development
(Social science history)
Stanford University Press, 2008
- : cloth
- : pbk
Available at 24 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
Includes bibliographical references and index
Description and Table of Contents
Description
Economists have long maintained that a well-developed and functioning financial system is a vital prerequisite to economic growth. Countries with robust banking sectors and securities markets-that is, countries in which credit cards, loans, mortgages, and the ability to issue stocks and bonds are available to a broad swath of consumers and businesses-are more prosperous than countries that restrict such access to a favored elite. What is less clear is why some countries develop better financial systems than others. The essays in this volume employ the insights and techniques of political science, economics, and history to provide a fresh answer to this question. While scholarly tradition points to the colonial origin of a country's legal system as the most important determinant of the health of its financial system, this volume points instead to a country's political institutions-its governmental structures and the rules of the political game-as the key. Specifically, the openness and competitiveness of a country's political system tends to reflect itself in the openness and competitiveness of its financial system.
Table of Contents
Contents Contributors 000 Acknowledgments 000 Chapter 1: Political Institutions and Financial Development 000 Stephen Haber, Douglass C. North, and Barry R. Weingast Chapter 2: Political Institutions and Financial Development: Evidence from the Political Economy of Bank Regulation in Mexico and the United States 000 Stephen Haber Chapter 3: The Political Economy of Early U.S. Financial Development 000 Richard Sylla Chapter 4: Answering Mary Shirley's Question, or: What Can the World Bank Learn from American History? 000 John Joseph Wallis Chapter 5: Beyond Legal Origin and Checks and Balances: Political Credibility, Citizen Information, and Financial Sector Development 000 Philip Keefer Chapter 6: The Microeconomic Effects of Different Approaches to Bank Supervision 000 James R. Barth, Gerard Caprio, and Ross Levine Chapter 7: Political Drivers of Diverging Corporate Governance Patterns 000 Peter Gourevitch and James Shinn Chapter 8: Credible Commitment and Sovereign Default Risk: Two Bond Markets and Imperial Brazil 000 William R. Summerhill Chapter 9: Legal Origin vs. the Politics of Creditor Rights: Bond Markets in Brazil, 1850\-2002 000 Aldo Musacchio Chapter 10: Conclusion: Economics, Political Institutions, and Financial Markets 000 Douglass C. North and Mary Shirley Index 000
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