Financial Development – A Political Institutions View |

Financial Development – A Political Institutions View

Synopsis:

More and more empirical studies support the view that financial development is beneficial for economic growth and development. However, not many countries seem to have succeeded in establishing a developed financial system, despite widespread financial liberalization. Confronted with this finding, a new school of thought claims that effective protection of property rights in a country is the key to financial development. Such effective protection can only be provided by governments that impose constraints on their own powers, in other words, that operate under a system of checks and balances. In this presentation we compare over 200 episodes of accelerations in financial development since 1960 and demonstrate empirically that indeed the quality of a country’s political institutions is an essential determinant of sustained financial development.

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Speaker(s):

Marc Quintyn, Division Chief in the IMF Institute

Date:
Monday, 01 March 2010
Time:
12.15 p.m. - 1.30 p.m.
Venue:

Seminar Room 3-5
Level 3, Manasseh Meyer
Lee Kuan Yew School of Public Policy
469C Bukit Timah Road
Singapore 259772

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