Bokus
Caroline Fohlin - Mobilizing Money, Inbunden

Inbunden, Engelska, 2011

Mobilizing Money

How the World's Richest Nations Financed Industrial Growth

Av Caroline Fohlin

Del i serien Japan-US Center UFJ Bank Monographs on International Financial Markets

1263 kr

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Beskrivning
This book examines the origins of modern corporate finance systems during the rapid industrialization period leading up to World War I; leading 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. Second, financial institutions and markets do not create economic growth without significant first steps in industrial development and supporting institutions. 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.
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Caroline Fohlin has served as Research Professor of Economics at The Johns Hopkins University, Baltimore, Maryland, since 2005. She previously taught at the California Institute of Technology from 1994 to 2004. Professor Fohlin's research has appeared in journals such as the Journal of Finance, the Journal of Economic History, the Review of Finance, Business History, Cliometrica, Explorations in Economic History and the Economic History Review. She is the author of Finance Capitalism and Germany's Rise to Industrial Power (Cambridge University Press, 2007) and is a research associate at the Center for Japan-US Business and Economic Studies at the Stern School of Business, New York University. Professor Fohlin gave the Bundesbank Lectures in Banking and Finance at the University of Freiburg in 2007 and received the DAAD Prize for Distinguished Scholarship in German and European Studies in 2005.

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'In the wake of the global credit crisis, what to do about financial markets is the question de jour. Caroline Fohlin shows that their operation and impact cannot be adequately understood without placing them in their historical context. Her rich analysis provides much needed perspective for scholars and policy makers alike.' Barry Eichengreen, University of California, Berkeley

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