Capital Mobility and the Origins of Stock Markets

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dc.contributor.author VERDIER, Daniel
dc.date.accessioned 2011-04-20T14:03:11Z
dc.date.available 2011-04-20T14:03:11Z
dc.date.issued 2001
dc.identifier.citation International Organization, 2001, 55, 2, 327-+
dc.identifier.issn 0020-8183
dc.identifier.uri http://hdl.handle.net/1814/16718
dc.description.abstract I illustrate the accepted, though hardly researched. idea that political institutions play a role in locking in factor specificity across sectors, space, and borders. I use the emergence of modern capital markets in the nineteenth century, a process that threatened to redeploy financial resources away from land and traditional sectors to heavy industry, as a test case to ascertain the degree of domestic financial capital mobility in nine advanced industrialized countries. The main finding is that cross-national variations in financial capital mobility, holding constant the level of economic development, reflect the degree of state centralization.
dc.title Capital Mobility and the Origins of Stock Markets
dc.type Article
dc.identifier.volume 55
dc.identifier.startpage 327
dc.identifier.endpage +
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dc.identifier.issue 2


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