@techreport{NBERw12993,
 title = "Growing Up to Financial Stability",
 author = "Michael D. Bordo",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "12993",
 year = "2007",
 month = "March",
 URL = "http://www.nber.org/papers/w12993",
 abstract = {This lecture revisits the evidence on the incidence and severity of different varieties of financial crises within the context of globalization then ( pre-1914) and now ( 1980 to the present). I then discuss the determinants of emerging market crises from the perspective of the recent balance sheet approach. This approach puts at center stage the importance of financial development. I then peel the onion back further and consider the "deep" institutional determinants of financial development and their relationship to financial stability. I conclude by conjecturing about the ways countries learn from their financial crises to improve their institutions and grow up to financial stability.},
}