CAMBRIDGE UNIVERSITY PRESS MOBILIZING MONEY HOW THE WORLDS RICHEST NATIONS FINANCED INDUSTRIAL GROWTH 2012 RETAIL EBOOK-kE

TITLE: MOBILIZING MONEY: HOW THE WORLD'S RICHEST NATIONS

FINANCED INDUSTRIAL GROWTH

PUBLISHER: CAMBRIDGE UNIVERSITY LANGUAGE: ENGLISH

LINK: http://is.gd/IshCHn RELEASE TYPE: RETAIL

FORMAT: PDF RELEASE DATE: 2014.06.25

ISBN: 9781139200233 STORE DATE: 2012

SAVED.MONEY: 82 DOLLAR DISKCOUNT: 01 x 05MB

AUTHOR: CAROLINE FOHLIN



BOOK



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