This research seeks to identify the factors that account for the variation in development levels across nations by focusing on the institutional components of development, especially the effects of financial market development on economic and political development. I argue that financial market...

At the end of World War II, the United States emerged as a world leader, putting into place international institutions based on its own liberal economic philosophy. Since then, the world has witnessed an increasing interconnectedness among states, with economic relationships continually blurring...