Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries
Title: Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries
Publisher: Oxford University Press
Citation: Oxford, Oxford University Press, 2011
As interest in financial markets intensifies, stimulated by the financial crisis of the early twenty-first century, this book aims to enrich our understanding of the workings and history of financial centres in the nineteenth and twentieth centuries, and the determinants of their success and failure. The book brings together leading authorities in the field to examine the direction of international capital flows historically in light of the nature of the banking system, market organization, the regulatory framework, and contextual political and diplomatic factors. Contributions discuss competition, collaboration, withdrawal, and re-emergence of financial centres in Europe, America, and Asia over the past two centuries. Written from a historical perspective but taking full account of recent studies in financial economics, the book, with contributions from leading international scholars, provides new research and approaches to a highly topical issue and sheds light on the recent financial crisis and its aftermath.
Table of Contents:
1. Introduction, Laure Quennouelle-Corre 2. The Battle of the Bourses? Competition between Stock Exchanges in the 20th, Ranald Michie 3. An 'Atypical' Case? The First Emergence of Brussels as an International Financial Centre 1830-1860, Stefano Ugolini 4. 'Rivalry and Collaboration': Relations between Buenos Aires Merchant Bankers and European Bankers in the Issue of Argentine Government Bonds in the 1880s, Carlos Marichal 5. St. Petersburg Exchange: On the Road to Maturity. Industrial Stock Index, 1897-1914, Leonid Borodkin and Gregory Perelman 6. London as The Global Market for Corporate Securities before 1914, Leslie Hannah 7. Wall Street Transitions, 1880-1920: From National to World Financial Centre, Richard Sylla 8. The Decline of Paris as an International Financial Centre 1914-1940, Laure Quennouelle-Corre 9. The Banque de France, The Bank of England and the Stabilization of the Romanian Currency in Late 1920s, Ileana Racianu 10. An Integrated European Market Without an International Centre: 1945-1962?, Andre Straus 11. The Re-emergence of Hong Kong as an International Financial Centre in Asia, 1960-1978 : Contested Internationalization, Catherine Schenk