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Contrary to popular narratives, 'The Great Divergence Reconsidered' shows that Europe's rise to its current status as an undisputed world economic leader was not the effect of the Industrial Revolution, nor can it be explained by coal or colonial exploitation. Using a wealth of new historical...
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Three main features characterize the international financial integration of China and India. First, while only having a … small global share of privately-held external assets and liabilities (with the exception of China's foreign direct … highly asymmetric: both are "short equity, long debt." Third, China and India have improved their net external positions over …
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This study provides comparative perspectives on the current and prospective situation of financial market development in ASEAN, the PRC, and India, identifies key priorities for strengthening financial infrastructure to promote financial development and regional integration, and produces policy...
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