Storm and Wind：Financial Deepening Under Open Shock

Author: Fu Junwen
Publisher:
Publish Date: 2001-01-01
Features: Economic globalization is a double-edged sword. Its impact on a country can be both beneficial and detrimental, a notion that has gradually gained widespread recognition. The same holds true for the financial industry. The free flow of capital and the opening-up of financial services can yield significant economic benefits, although they also introduce considerable instability. People often focus more on the shock economic globalization imposes on a country's financial system, overlooking the fact that the mutual flow of factors between countries has played an extremely important role in the formation and maturation of a national financial system. In light of this, the author attempts to analyze the role of financial liberalization in a country's economic development, particularly its impact on the maturation of the financial system, using financial deepening theory as the analytical tool and foundation for this book.