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State Based Financial Liberalization, Robert J. Kulzick Aug 2016

State Based Financial Liberalization, Robert J. Kulzick

Open Access Dissertations

In the last 40 years, states around the globe have increased the role of markets in their financial systems. Using newly collected information on the educational backgrounds of Central Bankers, I demonstrate that the beliefs of state officials about the proper role of markets in the financial system influence the extent to which state's liberalize their financial systems. By tracing the liberalization experiences in both France and China through secondary sources, I show that bureaucrats within the state suggest reforms that conform to their neoliberal training when political leaders turn to them for solutions to what are perceived as technical …


Why China Grew: Understanding The Financial Structure Of Late Development, Adam S. Hersh Feb 2011

Why China Grew: Understanding The Financial Structure Of Late Development, Adam S. Hersh

Open Access Dissertations

This dissertation explores how economic institutions governing finance and investment have con- tributed to growth in reform-era China. Economic and political reforms greatly transformed China's prior centrally-planned economy. Although reforms incorporated elements of market institutions and private enterprise, China's state institutions exercising extensive authority over a wide range of eco- nomic affairs critically and fundamentally played a central role in transforming this economy from one of the world's poorest to the world's second largest in the span of one generation. I explain the emergence of a unique configuration of institutions supportive of industrial policy implemented by largely autonomous local government …