Steve H. Hanke, Alan A. Walters (Editors)
Capital Markets and Development: A Sequoia Seminar.
San Francisco: Institute for Contemporary Studies, 1991. 1558150919 xvii/385 pages.
Softcover volume, measuring approximately 6" X 9", displays very light shelfwear. Binding is sound. Pages are clean and bright.
"For decades economists have assumed that poor countries can't support capital markets. This book puts the lie to that. Its wide-ranging exploration of twentieth-century financial institutions reveals that poor countries can't develop without capital markets.
From currency management in Russia in 1918 to financial liberalization in modern-day New Zealand and Chile. The case studies of this wide-ranging exploration of financial institutions show that bridging the abyss between barter and a fully convertible currency is no less essential to economic prosperity today than it was eighty years ago. Sound and stable currencies have been easily eroded by government interventions; repressed, fragmented financial systems have been their corollary. Undoing this damage and reestablishing the strength of a currency is far more difficult, as the recent experiences of Argentina and Chile can attest."