Description
Book SynopsisPolitical Institutions and Financial Development demonstrates that political institutions are the primary drivers of a country's financial system and that getting politics right is essential to creating a healthy financial system and a vibrant economy.
Trade Review"The greatest virtue of this book is the frontal assault it launches against the 'legal origins' view of financial development—the view that traces a country's current financial situation back to its history, especially its history as a colony.
Political Institutions and Financial Development should drive a stake through its heart and move scholars on to more fruitful areas of research." —Philip T. Hoffman, California Institute of Technology
Table of ContentsContents 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
