Ebook Economics and Culture in the Writing of Financial History
Recent research in financial history has taken three approaches to the subject, focusing on financial institutions, financial systems, and financial networks. Functionalist logic from neoclassical economics is both the strength and the weakness of the first, institution-centered approach. This logic provides a coherent framework with which to analyze the development of financial arrangements but one based narrowly in information economics and agency theory.
I argue in this paper that the other two approaches focusing on financial systems and financial networks are richer and more suggestive. They provide microeconomic foundations for arguments emphasizing the pathdependent character of financial development, thereby highlighting the contribution of financial history to financial economics. By emphasizing the extent to which financial relations are socially embedded and depend on interpersonal networks, they provide a means of bridging the gap between economic and cultural history.
Download
Ebook Economics and Culture in the Writing of Financial History
Posted in :
