Preface / James K. Galbraith -- Introduction: financial development : the sword of damocles hanging over the process of economic development / Faruk Ülgen -- Financial liberalization, crises and policy implications / Philip Arestis -- Global financing: a bad medicine for developing countries / Joaquín Arriola -- Financial development, instability and some confused equations / Faruk Ülgen -- Underdeveloped financial markets infrastructure of emerging market economies : assessment of underlying challenges and suggested policy responses / Shazia GHANI -- Towards de-financialization / Malcolm Sawyer -- A common currency for the common good / Sergio Rossi -- A capital market without banks : lending and borrowing in Hennaarderadeel, Friesland, 1537-1555 / Merijn KNIBBE And Paul Borghaerts -- Financial liberalization, financial development and instability in emerging economies : what lessons for the franc zone? / Aboubakar Sidiki Cisse -- Depositor myopia and banking sector behavior / Ozan Bakis, Fatih Karanfil And Sezgin Polat -- Dollarization and financial development : the experience of LA countries / Eugenia Correa And Alicia Girón -- Financialization in Brazil : a paper tiger, with atomic teeth? / Pierre Salama -- National and supra-national financial regulatory architecture : transformations of the Russian financial system in the post-soviet period / Nadezhda N. Pokrovskaia -- Minsky in Beijing : shadow banking, credit expansion and debt accumulation in china / Yan Liang.