Financial systems and economic modernization
成果类型：
Article
署名作者：
New York University; National Bureau of Economic Research
刊物名称：
JOURNAL OF ECONOMIC HISTORY
ISSN/ISSBN：
0022-0507
发表日期：
2002
页码：
277-292
关键词：
摘要：
The most successful economies of modern, and perhaps earlier, economic history appear to have had financial revolutions that created innovative financial systems before they became leading economies. This suggests that good financial systems may have played a causal role in economic modernization. I identify the key institutional components of such financial systems. Using the United States and Japan as examples, I discuss how two financial revolutions occurred. Effective leadership on the part of strong-willed individuals was crucial in each case.