Finance and Economic Development in the Very Long Run: A Review Essay

Yongseok Shin

Journal of Economic Literature, 2018, vol. 56, issue 4, 1577-86

Abstract: I review William N. Goetzmann's Money Changes Everything: How Finance Made Civilization Possible. This magnificent book offers insightful coverage of more than 5,000 years of human history under the theme of "how finance made civilization possible." I reinterpret its main hypotheses in the context of recent economic research on finance and development, and also compare them with other economic historians' views. I suggest that further examinations of the historical facts in the book could guide us in rethinking financial regulation.

JEL-codes: E42 E44 G00 N20 (search for similar items in EconPapers)
Date: 2018
Note: DOI: 10.1257/jel.20171407
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