The US Farmland Boom and Bust in the early 20th Century: Lessons for Today

Eleventh Paolo Baffi Lecture

by Raghuram G. Rajan
November 2013
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There is a vast literature on the effect of institutions on growth and development. The general sense from this literature is that there is a correlation between having better institutions and being more developed; the direction of causality, has been debated vigorously. Financial institutions and financial markets are examples of economic institutions; by looking at their development, we can get a sense of how economic institutions develop and the causal factors in that development [...]

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    Eleventh Paolo Baffi Lecture

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