Finance and Economic Development in the Very Long Run: A Review Essay
- (pp. 1577-86)
AbstractI review William N. Goetzmann's Money Changes Everything: How Finance Made Civilization Possible. This magnificent book offers insightful coverage of more than 5,000 years of human history under the theme of "how finance made civilization possible." I reinterpret its main hypotheses in the context of recent economic research on finance and development, and also compare them with other economic historians' views. I suggest that further examinations of the historical facts in the book could guide us in rethinking financial regulation.
CitationShin, Yongseok. 2018. "Finance and Economic Development in the Very Long Run: A Review Essay." Journal of Economic Literature, 56 (4): 1577-86. DOI: 10.1257/jel.20171407
- E42 Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
- E44 Financial Markets and the Macroeconomy
- G00 Financial Economics: General
- N20 Economic History: Financial Markets and Institutions: General, International, or Comparative