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［31］关于债券委员会的详细论述，参见Mark Ramseyer, “Explicit Reasons for Implicit Contracts: The Legal Logic to the Japanese Main Bank System,” in The Japanese Main Bank System, ed. M. Aoki and H. Patrick (New York: Oxford University Press, 1994), 238-239, and Rosenbluth, Financial Politics in Contemporary Japan。
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［32］Rosenbluth, Financial Politics in Contemporary Japan, 146.
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［33］同上，第149页。
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［34］同上，第56页。
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［35］同上，第163页。
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［36］具体来说，是上市公司的股票发行金额与毛固定资产投资的比例，固定资产投资包括全国的投资，而不只是公司投资。
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［37］参见R. Rajan and L. Zingales, “The Great Reversals: The Politics of Financial Development in the 20th Century,” Journal of Financial Economics (forthcoming,2002)。贸易开放度的计算办法是进出口总额除以GDP。在制作本图时，考虑到工业化程度更高的国家应该有更大的股票市场，我们进行了调整。然后以调整结果（通过对这些国家的股票市场市值与GDP的比值按照一个常数和1913年时的工业化指标进行回归）为纵坐标，以工业化水平和开放度的乘积为横坐标来制图。开放度乘以工业化水平的意思是，开放会削弱利益集团反对金融发展的阻力，而不会无中生有地创造金融需求。
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［38］我们在分析开放与金融发展的相关关系时，用外生的贸易变量来描述开放，比如一个国家的人口。参见H. Svaleryd and J. Vlachos, “Market for Risk and Openness to Trade: How Are They Related?” Journal of Public Economics 57, no. 2 (2002), 364-395。他们发现，开放引起了金融发展，而没有金融发展引起开放的证据。
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［39］Randall Morck, David Strangeland, and Bernard Young, “Inherited Wealth, Corporate Control, and Economic Growth: The Canadian Disease?” in Concentrated Capital Ownership, ed. R. K. Morck (Chicago: University of Chieago Press, 2000).
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［40］同上。
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第9章
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［1］Barry J. Eichengreen, Globalizing Capital: A History of the International Monetary System (Princeton, N.J.: Princeton University Press, 1996), and Peter Temin, Lessons from the Great Depression (Cambridge, Mass.: MIT Press, 1989).
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［2］Eichengreen, Globalizing Capital, 31.
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［3］William H. McNeill, The Pursuit of Power: Technology, Armed Force and Society since AD 1000 (Chicago: University of Chicago Press, 1982), 339.
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［4］Eichengreen, Globalizing Capital, 4.
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［5］Temin, Lessons from the Great Depression, 11. Charles Feinstein, Peter Temin, and Gianni Toniolo, The European Economy between the Wars (Oxford: Oxford University Press, 1997).
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［6］Charles Maier, In Search of Stability: Explorations in Historical Political Economy (Cambridge, U.K.: Cambridge University Press, 1987), 87.
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［7］Maier, In Search of Stability, 84.
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［8］Franklin D. Roosevelt, Public Papers and Addresses, vol. 2 (New York: Russel & Russel, 1933), 11-12.
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［9］Franklin D. Roosevelt, Public Papers and Addresses, vol. 3 (New York: Russel & Russel, 1934), 414.
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［10］Franklin D. Roosevelt, Public Papers and Addresses, vol. 5 (New York: Russel & Russel, 1936), 232-233.
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［11］Roosevelt, Public Papers and Addresses, vol. 2, 264-265.
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［12］近期的出色调查，参见Kevin H. O’Rourke and Jeffery G. Williamson, Globalization and History: The Evolution of the Nineteenth-Century Atlantic Economy (Cambridge, Mass.: MIT Press, 1999)。
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［13］David M. Kennedy, Freedom from Fear: The American People in Depression and War, 1929-45 (New York: Oxford University Press, 1999), 179.
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［14］Roosevelt, Public Papers and Addresses, vol. 2, 202.
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