Growing up to Financial Stability

Michael Bordo

Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), 2008, vol. 2, No 2008-12, 17 pages

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.

Keywords: Financial crises; globalization; financial development; institutions (search for similar items in EconPapers)
JEL-codes: F4 G2 N1 O1 (search for similar items in EconPapers)
Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Related works:
Working Paper: Growing Up to Financial Stability (2007)
Working Paper: Growing up to Financial Stability (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifweej:7261

DOI: 10.5018/economics-ejournal.ja.2008-12

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