Mother, Can I Trust the Government? : Sustained Financial Deepening; A Political Institutionsview /

Only a minority of countries have succeeded in establishing a developed financial system, despite widespread financial liberalization. Confronted with this finding, the political institutions view claims that sustained financial deepening is most likely to take place in institutional environments wh...

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Автор: Quintyn, Marc
Інші автори: Verdier, Genevieve
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 2010.
Серія:IMF Working Papers; Working Paper ; No. 2010/210
Онлайн доступ:Full text available on IMF
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520 3 |a Only a minority of countries have succeeded in establishing a developed financial system, despite widespread financial liberalization. Confronted with this finding, the political institutions view claims that sustained financial deepening is most likely to take place in institutional environments where governments effectively impose constraints on their own powers in order to create trust. This paper identifies over 200 post-1960 episodes of accelerations in financial development in a large cross-section of countries. We find that the likelihood of an acceleration leading to sustained financial development increases greatly in environments that have high-quality political institutions. 
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700 1 |a Verdier, Genevieve. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2010/210 
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