Finance, growth and fragility: The role of government

T.H.L. Beck

Research output: Contribution to journalArticleScientificpeer-review

10 Citations (Scopus)

Abstract

This paper offers a critical survey of the literature on the role of financial deepening in economic development, focusing on the role of government. Specifically, I distinguish between the policy view that relates financial sector development to an array of necessary policies and institutions, the historic view that relates financial sector development to historic and cultural factors, and the politics view that explains financial sector development as the result of political conflicts and decisions. These three views of financial sector deepening imply a different role for government. I discuss examples from the developed and developing world and repercussions for current reform discussions.
Original languageEnglish
Pages (from-to)49-77
JournalInternational Journal of Banking, Accounting and Finance
Volume5
Issue number1-2
Publication statusPublished - 2013

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