Mobilizing Money: How the World's Richest Nations Financed Industrial Growth (Japan-US Center UFJ Bank Monographs on International Financial Markets) - Hardcover

Fohlin, Caroline

Hardcover

ISBN 10: 0521810213 ISBN 13: 9780521810210

Publisher: Cambridge University Press, 2012

Synopsis

This book examines the origins of modern corporate finance systems during the rapid industrialization period leading up to World War I; leading to three sets of conclusions. First, modern financial systems are rooted in the past, are idiosyncratic to specific countries and are highly path-dependent. Therefore, to understand current financial institutions, we must take stock of the forces at play in the near and distant past. Second, financial institutions and markets do not create economic growth without significant first steps in industrial development and supporting institutions. Third, and most important from the modern policy standpoint, there is no 'one-size-fits-all' solution to financial system design and industrial development. Having specific types of financial institutions is far less important than developing a strong, stable and legally protected financial system with a rich diversity of institutions and vibrant markets that can adapt to changing needs.

About this title

About the Author

Caroline Fohlin has served as Research Professor of Economics at The Johns Hopkins University, Baltimore, Maryland, since 2005. She previously taught at the California Institute of Technology from 1994 to 2004. Professor Fohlin's research has appeared in journals such as the Journal of Finance, the Journal of Economic History, the Review of Finance, Business History, Cliometrica, Explorations in Economic History and the Economic History Review. She is the author of Finance Capitalism and Germany's Rise to Industrial Power (Cambridge University Press, 2007) and is a research associate at the Center for Japan-US Business and Economic Studies at the Stern School of Business, New York University. Professor Fohlin gave the Bundesbank Lectures in Banking and Finance at the University of Freiburg in 2007 and received the DAAD Prize for Distinguished Scholarship in German and European Studies in 2005.

Edition details

• Publisher: Cambridge University Press
• Publication date: 2012
• Language: English
• ISBN 10: 0521810213
• ISBN 13: 9780521810210
• Binding: Hardcover
• Number of pages: 280