Certificate Programme: Lectures on the evolution of global finance Open to Guest Students: Apply Now

Globally, financial liberalization is resulting in the homogenization of the formal financial sectors in the developed countries and developing countries categorized as emerging markets. This is surprising since till the 1970s, not only were financial structures in the developed countries, including the US, highly regulated, but they were significantly different from each other, depending on the specific role they played in the development process of the country concerned. This course is concerned with delineating the nature of financial structures in different contexts, analyzing the role they played in the development process and assessing the implications of the premature liberalization of formal financial systems for development in the countries identified as emerging markets.

The module has the following objectives: (i) To study the disparate process of evolution of financial systems in the US, Germany and Japan and the role they played in economic development; (ii) to trace the (recent) history of the now ubiquitous “Anglo-Saxon” model of an ostensibly efficient financial structure; (iii) to examine the factors that led to the evolution of this form in the US and elsewhere in the developed countries; (iv) to examine the specific form that formal financial structures took under post-WWII growth in countries like India; (v) to assess the factors that led to the adoption of policies of financial liberalization that transformed financial structures in these countries; and (vi) assess the consequences of such policies.

The 8-lecture module is open for auditing by guest students. Ten guest students will be selected for attending in-person classes held in New Delhi and ten students for participating online (via zoom). Guest students must attend all lectures and will get a certificate of participation on completion of the module.

Interested candidates may apply here: https://forms.gle/zqc5SedVpW3orGjD9