Summary We provide historical evidence from London, Amsterdam and Hong Kong which highlights the essential role played by governments in kick-starting financial development. In the cases of London and Amsterdam, the emergence of financial markets was a by-product of the rise of large trading...

This book explores the origins and evolution of China's institutions and communist totalitarianism in general. Contemporary China's fundamental institution is communist totalitarianism. Introducing the concept of "institutional genes" (IGs), the book examines how the IGs institutional genes of...