Perspectives on international and corporate finance

摘要

The papers in this special issue represent a series drawn from those presented at the 2010 Infinity conference on international finance, held at Trinity College Dublin in June 2010. The papers fall into three separate categories - papers that examine issues around the corporate finance decision; a series of papers that examine the role of financial institutions; finally we have papers that look at what might be classed as the political economy of international finance. The first two, papers by Becerra et al. and Frijns et al., examine what we might describe as the political economy of international finance. Becerra et al. examine the paradox that although high degrees of financial sophistication and capacity are associated with positive development outcomes many countries pursue policies that are antipathetic to such financial deepening. From a theoretical model he then tests the implications, finding supportive evidence. The role of credit dependency in providing cover for opposition to financial development is important but the role of the capabilities in an organizational-political sense of the government is equally important. The paper combines a number of threads heretofore considered in isolation. Frijns et al.