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"This is a terrific book for an important topic. It
is must reading for all those interested in the key
determinants of economic growth and stability.
Phumiwasana skillfully uses data to make a
compelling case that capital markets are essential
for growth and stability in developed countries,
whereas banks play a similar role for emerging
market
economies." James R. Barth, Lowder
Eminent Scholar in Finance, Auburn University and
Senior Fellow, Milken
Institute
is must reading for all those interested in the key
determinants of economic growth and stability.
Phumiwasana skillfully uses data to make a
compelling case that capital markets are essential
for growth and stability in developed countries,
whereas banks play a similar role for emerging
market
economies." James R. Barth, Lowder
Eminent Scholar in Finance, Auburn University and
Senior Fellow, Milken
Institute