How to Download Finance, Time and Growth: Theory, Evidence and Conclusions for Mexico MOBI
Finance, Time and Growth is a short history of finance. Timothy Heyman begins by focussing on two facts that are taken for granted: the importance of finance in the global economy and the relatively high remuneration of finance professionals. He goes on to ask the question whether, if finance is good for finance professionals, it is also good for the world: in other words, whether it contributes to economic growth.In response to his question, the author guides readers deftly and quickly from 3000 BC to the present through the economists’ morass of conflicting theories and evidence and reaches the conclusion that finance has detonated growth from the beginning of recorded history. In the spirit of his uncle, the renowned development economist and political philosopher Albert O. Hirschman, he applies various disciplines to the evolution of this conclusion: metaphysics, philosophy, anthropology, history, economics and finance.As a concrete case, he applies this conceptual framework to Mexico, the country where he has spent most of his career, both as a financier and academic. He provides conclusive evidence of its financial underdevelopment, links this with its underdevelopment in other areas, and makes suggestions on how this can be remedied. The author ends, as he begins, on an ethical note. As finance detonates growth, it is good for the world, and finance professionals can do well and do good. The invisible hand of finance.A clear, concise and original synthesis, the book has been tried and tempered by experts in central banking, financial policy, competitiveness, emerging markets, political science, investments and Fintech, and students at the graduate and undergraduate level. It provides an important corrective to the lack of historical explanation in most economics, business and finance graduate and undergraduate courses. It also offers a new perspective to policy makers, economists, finance professionals, businessmen and anyone concerned with economic and financial development in both mature and emerging markets. "Timothy Heyman is not only a shrewd market analyst but also an economic historian who provides a broad perspective on the role financial markets have played to bring about prosperity. Perhaps one can say categorically that without finance there is scant room for growth. His excellent work is certainly highly recommended reading.""Heyman’s book convincingly demonstrates that policy makers need to address the conditions that have repressed the development of Mexico’s financial markets in order to accelerate Mexico’s economic growth. This message should be taken to heart by Mexico’s authorities."“Economics is always more powerful when it is written by a historian. And finance is always more persuasive when it comes from a practitioner. This book fulfills both admirably. Timothy Heyman brings you insights from his successful investment career and decisive conclusions about why economies emerge.”"An excellent primer for a student looking at financial systems/development generally, and Mexico specifically."
