Financial Development

This course aims at providing a well-rounded understanding of the financial development process over time and across countries, with emphasis on emerging economies. Relevant topics will be covered from different perspectives, including the supply and demand sides of financial services; the roles of markets, instruments, and institutions; issues on systemic financial stability and access to financial services; links to financial globalization; and the role of the state. The course will entail active student participation. In particular, (a) students will be expected to review the background reading materials in advance and, on that basis, participate actively in the lecture-based classes; and (b) investigate (as part of a group project) a particular topic of their choice, present the results to the class, and write a short paper. In the process, students should improve their critical thinking, research and communication abilities, and learn new material on financial development.