Finance and Development: Issues and Experience

Finance and Development: Issues and Experience

by Alberto Giovannini
     
 

ISBN-10: 0521057566

ISBN-13: 9780521057561

Pub. Date: 01/28/2008

Publisher: Cambridge University Press

Recent progress towards economic and monetary union in Western Europe has highlighted the importance of regional policies, while events in Eastern Europe have focused attention on the role of finance in development and may lead to a substantial diversion of international capital flows. Research on endogenous growth has considered the relationships among growth,…  See more details below

Overview

Recent progress towards economic and monetary union in Western Europe has highlighted the importance of regional policies, while events in Eastern Europe have focused attention on the role of finance in development and may lead to a substantial diversion of international capital flows. Research on endogenous growth has considered the relationships among growth, convergence and capital market imperfections, focusing on the contribution of capital markets to the real economy and the effects on developing countries of increased access to international capital markets. This volume, derived from a conference on 'Finance and Development in Europe', held by the Centre for Economic Policy Research in Santiago de Compostela on 13-15 December 1991, with financial support from the Regional Government of Galicia, addresses many of these issues. Theoretical papers shed light on the debates over the role of financial structure in economic development and the scope for government intervention to promote regional development. A number of highly topical empirical papers examine the relationship between international lending and economic development in a historical perspective, the recent experience of regional policies in the European Community and its member states and of financial liberalization in the high-growth East Asian economies, and the development of financial markets in the transforming economies of Eastern Europe.

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Product Details

ISBN-13:
9780521057561
Publisher:
Cambridge University Press
Publication date:
01/28/2008
Pages:
380
Product dimensions:
5.98(w) x 8.98(h) x 0.83(d)

Table of Contents

List of figures
List of tables
Preface
List of conference participants
1Introduction1
Pt. IThe Role of Finance in Economic Development
2International finance and economic development11
3A theory of financial development29
4Capital market imperfections and regional economic development65
5Convergence in the closed and in the open economy99
Pt. IIACase Studies - Financial Markets and Economic Development
6The role of finance in economic development in South Korea and Taiwan121
7Finance and development: the case of Southern Italy158
Pt. IIBCase Studies - Government Policies
8Macroeconomic control in liberalizing socialist economies: Asian and European parallels223
9Regional imbalances and government compensatory financial flows: the case of Spain261
Pt. IIIDevelopment Finance
10Financing and development in Eastern Europe and the former Soviet Union: issues and institutional support303
11Overview343
Index355

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