Financial Stability, Economic Growth, and the Role of Law

FINANCIAL STABILITY, ECONOMIC GROWTH AND THE ROLE OF LAW, New York: Cambridge University Press, 2007

17 Pages Posted: 25 May 2009

See all articles by Douglas W. Arner

Douglas W. Arner

The University of Hong Kong - Faculty of Law

Date Written: July 2007

Abstract

Financial crises have become an all-too-common occurrence over the past twenty years, largely as a result of changes in finance brought about by increasing internationalization and integration. As domestic financial systems and economies become more interlinked, weaknesses can significantly impact not only individual economies but also markets, financial intermediaries and economies around the world. This volume addresses the twin objectives of financial development in the context of financial stability and the role of law in supporting both. Financial stability (frequently seen as the avoidance of financial crisis) has become an objective of the international financial architecture as well as individual economies and central banks. At the same time, financial development is now seen to play an important role in economic growth. In both financial stability and financial development, law and related institutions have a central role.

Keywords: financial crisis, financial stability, financial developmentment, financial regulation, law and institutions

Suggested Citation

Arner, Douglas W., Financial Stability, Economic Growth, and the Role of Law (July 2007). FINANCIAL STABILITY, ECONOMIC GROWTH AND THE ROLE OF LAW, New York: Cambridge University Press, 2007. Available at SSRN: https://ssrn.com/abstract=1409544

Douglas W. Arner (Contact Author)

The University of Hong Kong - Faculty of Law ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

HOME PAGE: http://hub.hku.hk/rp/rp01237

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