Growing up to Financial Stability
Michael Bordo
No 2007-33, Economics Discussion Papers from Kiel Institute for the World Economy (IfW Kiel)
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: 2007
New Economics Papers: this item is included in nep-fdg and nep-his
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Citations: View citations in EconPapers (12)
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https://www.econstor.eu/bitstream/10419/17956/1/dp2007-33.pdf (application/pdf)
Related works:
Working Paper: Growing Up to Financial Stability (2007) 
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwedp:5738
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