EH.Net Abstracts in Economic History

                ABSTRACTS IN ECONOMIC HISTORY
                     (c) 2002 EH.Net
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Name:  Richard Sylla
Email:  rsylla at stern.nyu.edu
Institution:  New York University, Stern School of Business

Co-author:  none

Title:  Financial Systems and Economic Modernization

Internet Address of abstracted work:  not available

By mail:
New York University

Language:  English

Abstract:
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.

Bibliography: Sylla, Richard. "Financial Systems and Economic 
Modernization." The Journal of Economic History 62, no. 3, June 2002: 
277-292.

Subject:  H
Geographical Area:  0
Country/Region: US, Japan
Time Period:  0

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