The Great Reversals: The Politics of Financial Development in the 20th Century
We attempt to identify and explain the broad patterns of financial development in developed countries over the twentieth century. We find that, contrary to the predictions of most existing theories, indicators of financial development do not seem monotonic over time. In particular, we find that by m...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2000
|
| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | We attempt to identify and explain the broad patterns of financial development in developed countries over the twentieth century. We find that, contrary to the predictions of most existing theories, indicators of financial development do not seem monotonic over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and that a major reversal took place between 1913 and 1950. To explain this we outline a simple theory of the political economy of financial development. Empirically, our analysis suggests that the forces opposing financial development will be weaker when a country is open to international trade and capital flows. We find this to be true both in the cross-section and over time. In periods of free capital movement world-wide, a country's level of financial development is directly related to its openness to trade. Similarly, the low frequency movements of financial development over time appear to be correlated ... |
| Beschreibung: | 1 Online-Ressource (52 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/371486741616 |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047935808 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2000 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/371486741616 |2 doi | |
| 035 | |a (ZDB-13-SOC)061262005 | ||
| 035 | |a (OCoLC)1312692212 | ||
| 035 | |a (DE-599)BVBBV047935808 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Rajan, Raghuram G... |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a The Great Reversals |b The Politics of Financial Development in the 20th Century |c Raghuram G. Rajan and Luigi Zingales |
| 264 | 1 | |a Paris |b OECD Publishing |c 2000 | |
| 300 | |a 1 Online-Ressource (52 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers | |
| 520 | |a We attempt to identify and explain the broad patterns of financial development in developed countries over the twentieth century. We find that, contrary to the predictions of most existing theories, indicators of financial development do not seem monotonic over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and that a major reversal took place between 1913 and 1950. To explain this we outline a simple theory of the political economy of financial development. Empirically, our analysis suggests that the forces opposing financial development will be weaker when a country is open to international trade and capital flows. We find this to be true both in the cross-section and over time. In periods of free capital movement world-wide, a country's level of financial development is directly related to its openness to trade. Similarly, the low frequency movements of financial development over time appear to be correlated ... | ||
| 650 | 4 | |a Economics | |
| 700 | 1 | |a Zingales, Luigi |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/371486741616 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033317301 | |
Datensatz im Suchindex
| _version_ | 1818806083700916224 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Rajan, Raghuram G.. |
| author2 | Zingales, Luigi |
| author2_role | ctb |
| author2_variant | l z lz |
| author_facet | Rajan, Raghuram G.. Zingales, Luigi |
| author_role | aut |
| author_sort | Rajan, Raghuram G.. |
| author_variant | r g r rg rgr |
| building | Verbundindex |
| bvnumber | BV047935808 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061262005 (OCoLC)1312692212 (DE-599)BVBBV047935808 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/371486741616 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047935808</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2000 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/371486741616</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061262005</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312692212</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047935808</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Rajan, Raghuram G...</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">The Great Reversals</subfield><subfield code="b">The Politics of Financial Development in the 20th Century</subfield><subfield code="c">Raghuram G. Rajan and Luigi Zingales</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2000</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (52 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">We attempt to identify and explain the broad patterns of financial development in developed countries over the twentieth century. We find that, contrary to the predictions of most existing theories, indicators of financial development do not seem monotonic over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and that a major reversal took place between 1913 and 1950. To explain this we outline a simple theory of the political economy of financial development. Empirically, our analysis suggests that the forces opposing financial development will be weaker when a country is open to international trade and capital flows. We find this to be true both in the cross-section and over time. In periods of free capital movement world-wide, a country's level of financial development is directly related to its openness to trade. Similarly, the low frequency movements of financial development over time appear to be correlated ...</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Zingales, Luigi</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/371486741616</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033317301</subfield></datafield></record></collection> |
| id | DE-604.BV047935808 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:04Z |
| indexdate | 2024-12-18T19:04:08Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033317301 |
| oclc_num | 1312692212 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (52 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2000 |
| publishDateSearch | 2000 |
| publishDateSort | 2000 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Rajan, Raghuram G... Verfasser aut The Great Reversals The Politics of Financial Development in the 20th Century Raghuram G. Rajan and Luigi Zingales Paris OECD Publishing 2000 1 Online-Ressource (52 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers We attempt to identify and explain the broad patterns of financial development in developed countries over the twentieth century. We find that, contrary to the predictions of most existing theories, indicators of financial development do not seem monotonic over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and that a major reversal took place between 1913 and 1950. To explain this we outline a simple theory of the political economy of financial development. Empirically, our analysis suggests that the forces opposing financial development will be weaker when a country is open to international trade and capital flows. We find this to be true both in the cross-section and over time. In periods of free capital movement world-wide, a country's level of financial development is directly related to its openness to trade. Similarly, the low frequency movements of financial development over time appear to be correlated ... Economics Zingales, Luigi ctb https://doi.org/10.1787/371486741616 Verlag kostenfrei Volltext |
| spellingShingle | Rajan, Raghuram G.. The Great Reversals The Politics of Financial Development in the 20th Century Economics |
| title | The Great Reversals The Politics of Financial Development in the 20th Century |
| title_auth | The Great Reversals The Politics of Financial Development in the 20th Century |
| title_exact_search | The Great Reversals The Politics of Financial Development in the 20th Century |
| title_exact_search_txtP | The Great Reversals The Politics of Financial Development in the 20th Century |
| title_full | The Great Reversals The Politics of Financial Development in the 20th Century Raghuram G. Rajan and Luigi Zingales |
| title_fullStr | The Great Reversals The Politics of Financial Development in the 20th Century Raghuram G. Rajan and Luigi Zingales |
| title_full_unstemmed | The Great Reversals The Politics of Financial Development in the 20th Century Raghuram G. Rajan and Luigi Zingales |
| title_short | The Great Reversals |
| title_sort | the great reversals the politics of financial development in the 20th century |
| title_sub | The Politics of Financial Development in the 20th Century |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/371486741616 |
| work_keys_str_mv | AT rajanraghuramg thegreatreversalsthepoliticsoffinancialdevelopmentinthe20thcentury AT zingalesluigi thegreatreversalsthepoliticsoffinancialdevelopmentinthe20thcentury |