Arbeitspapier

Financial development: A broader perspective

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical policy lessons can be drawn from historical experience. Some financial structures may be better suited to growth at certain stages of development but they may be less well suited in other circumstances. In the search for optimal financial structure, rather than attempt to adopt another country's particular structure it may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in each individual system. A major lesson for the emerging world from past financial development is that there are risks involved in transitioning from one framework to another. Too fast a change increases the danger that all the necessary regulatory, supervisory and educational changes may not keep pace with the financial changes. This can increase the susceptibility to instability and reduce resilience to shocks.

Language
Englisch

Bibliographic citation
Series: ADBI Working Paper ; No. 258

Classification
Wirtschaft
Financial Markets and the Macroeconomy
International Economics: General
Global Outlook
International Economic Order and Integration
Financial Economics: General
Financial Crises
International Financial Markets
General Financial Markets: Government Policy and Regulation
Financial Institutions and Services: General
Corporate Finance and Governance: Government Policy and Regulation
Economic History: General
Development of the Discipline: Historiographical; Sources and Methods
Economic History: Financial Markets and Institutions: General, International, or Comparative
Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy: General, International, or Comparative
Economic History: Government, War, Law, International Relations, and Regulation: General, International, or Comparative
Economic Development: General
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Subject
Finanzsektor
Wirtschaftswachstum
Kapitalmarktliberalisierung
Makroökonomischer Einfluss
Schwellenländer
Welt

Event
Geistige Schöpfung
(who)
Reid, Richard
Event
Veröffentlichung
(who)
Asian Development Bank Institute (ADBI)
(where)
Tokyo
(when)
2010

Handle
Last update
10.03.2025, 11:42 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Reid, Richard
  • Asian Development Bank Institute (ADBI)

Time of origin

  • 2010

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