The Great Reversals: The Politics of Financial Development in the 20th Century
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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We attempt to identify and explain the broad patterns of financial development in developed countries over the twentieth century. We find that, contrary to the predictions of most existing theories, indicators of financial development do not seem monotonic over time. In particular, we find that by most measures, countries were more financially...
