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As the world has witnessed the worst financial crisis and climate crisis of our
age, during the period of 2007-2009, the issues surrounding the emergence and development
of financial markets and carbon markets is becoming an increasingly significant area of
research and debate worldwide.
By engaging with recently developed methods of research and new areas of practice, this
book investigates the political, economic, policy and geographic determinants of the
development of financial markets.
The volume examines the causality between financial development and
aggregate private investment from an economic perspective.
It also explores the consequences of political liberalization, focusing on the
impact of institutional improvement on financial development. It studies what stimulates
governments to initiate reforms aimed at boosting financial development, and analyses the
determinants of carbon markets in developing countries from a geographic point of view.
This book is essential reading for all interested in economic and financial
development, climate change, environmental economics, and applied econometrics.
YONGFU HUANG is the Tyndall Research Fellow at the University of Cambridge, where he
completed this research. Since 2006, he has initiated and maintained the Financial
Development Resources website, which is currently hosted at Cambridge. In May 2010, Dr
Huang was selected by the Intergovernmental Panel on Climate Change (IPCC) for its Fifth
Assessment Report (AR5 WGIII) as Lead Author, working on the cross-cutting investment and
finance issues for tackling climate change.
Contents
Preface
Introduction
General Determinants of Financial Development
Private Investment and Financial Development
Political Institutions and Financial Development
Financial Reforms for Financial Development
Geographic Determinants of Carbon Markets
Conclusion
Bibliography
232 pages, Hardcover