Mobilizing Money: How the World's Richest Nations Financed Industrial Growth (Japan-US Center UFJ Bank Monographs on International Financial Markets)

Mobilizing Money: How the World's Richest Nations Financed Industrial Growth (Japan-US Center UFJ Bank Monographs on International Financial Markets), 9780521810210 (0521810213), Cambridge University Press, 2011

This book examines the origins of modern corporate finance systems during the rapid industrialization period leading up to World War I. The study leads to three sets of conclusions. First, modern financial systems are rooted in the past, are idiosyncratic to specific countries, and are highly path-dependent. Therefore, to understand current financial institutions, we must take stock of the forces at play in the near and distant past: political and regulatory intervention, natural resource endowments, educational institutions, and social and religious beliefs. Second, financial institutions and markets do not create economic growth without significant first steps in industrial development and supporting institutions. The finance-growth relationship also varies over time, as financial and economic developments influence one another and create a feedback mechanism. Third, and most important from the modern policy standpoint, there is no "one-size-fits-all" solution to financial system design and industrial development. Having specific types of financial institutions is far less important than developing a strong, stable, and legally protected financial system with a rich diversity of institutions and vibrant markets that can adapt to changing needs.

Comments

Amazing Books

Fedora Bible 2011 Edition: Featuring Fedora Linux 14

John Wiley & Sons, 2011

With the Fedora Linux operating system and the instructions in this book, you can transform your PC into a safe, powerful, and free computer system. Starting with Fedora, you can easily replace (or coexist with) Microsoft Windows on your everyday desktop computer. You can also configure your computer to share your files, printers, Web pages,...

The Troubled Dream of Genetic Medicine: Ethnicity and Innovation in Tay-Sachs, Cystic Fibrosis, and Sickle Cell Disease

The Johns Hopkins University, 2006

Why do racial and ethnic controversies become attached, as they often do, to discussions of modern genetics? How do theories about genetic difference become entangled with political debates about cultural and group differences in America? Such issues are a conspicuous part of the histories of three hereditary diseases: Tay-Sachs, commonly...

Marketing Automation with Eloqua

Packt Publishing, 2013

Eloqua is a fantastically versatile platform if you want to automate your digital marketing campaigns, and this book is the perfect guide. From generating personalized emails to analyzing results, it walks you through every aspect.

Overview

Learn the intricacies involved in filtering contacts

Time: From Earth Rotation to Atomic Physics

John Wiley & Sons, 2009

Everyday use of time in one form or another is a common experience for everyone throughout their lives. The availability of a means to measure the passage of time with the required accuracy is taken for granted. However, the concepts on which those time scales are based and the requirements for accuracy in many applications can be both...

Windows Server 2012 Hyper-V Cookbook

Packt Publishing, 2012

Virtualization has proved that it can help organizations to reduce costs, and the Private Cloud has created a revolution in the way we manage and control our servers with centralization and elasticity. The new Windows Server 2012 Hyper-V release from Microsoft comes with a myriad of improvements in areas such as mobility, high availability...

Imaging the Central Nervous System of the Fetus and Neonate

CRC Press, 2006

One of the most significant areas of advance in clinical medicine over the last 20 years has been in the imaging technologies. It is difficult to point to the single method or application that has benefited most from those advances because nearly all specialities in medicine have been involved. Perhaps the most significant trend, however, has...