The Evolution Of Financial Institutions And Markets In Twentieth Century Europe

Author : Youssef Cassis,Gerald D. Feldman,Ulf Olsson
Publisher : Unknown
Page : 362 pages
File Size : 51,8 Mb
Release : 1995
Category : Business & Economics
ISBN : STANFORD:36105009568762

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The Evolution of Financial Institutions and Markets in Twentieth-century Europe by Youssef Cassis,Gerald D. Feldman,Ulf Olsson Pdf

"The last decade has witnessed widespread deregulation in major international financial centres and an increased globalization of financial activities. This phenomenon, which raises the question of the relationship between finance and the real economy, has been widely discussed by financial analysts, but has not yet been placed in its historical perspective. This is one of the first books to address this important problem." "The editors and contributors take as their point of departure the current state of various financial institutions and the ways in which their distinctive features and contemporary tendencies developed. They go on to assess the relationship between the evolution of financial markets and institutions and overall economic development. A wide range of institutions and markets is covered, including central, commercial, savings and investment banks, stock markets and other capital markets. Although most of the chapters concentrate on institutions, several of them apply recent theories and empirical methods such as asset pricing theories, tests for market efficiency, event studies and market integration." "The chapters employ a variety of approaches, representative of the best current research practices in financial history, and deal with nine different countries. However, they converge on three interrelated questions: the stability, efficiency and discipline of the financial sector. Hence the book will appeal to economic historians as well as to economists and financial analysts."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved

Author : Jaime Reis
Publisher : Routledge
Page : 266 pages
File Size : 45,7 Mb
Release : 2016-04-01
Category : History
ISBN : 9781317050520

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State and Financial Systems in Europe and the USA by Jaime Reis Pdf

During the twentieth century the financial sector became possibly the most regulated area of the economy in many advanced and developing countries. The interwar years represented the defining moment for the escalation of governments' intervention, turning the State into the core of financial systems in its capacity of regulator, supervisor or owner. The essays in this collection shed light on different aspects of the experience of financial regulation, ownership and deregulation in Europe and the USA from a secular historical perspective. The volume's chapters explore how the political economy of finance changed in the nineteenth and twentieth centuries and how such changes were related to shifting attitudes towards globalization. They also investigate how regulation responded to governance problems of financial intermediaries and markets, and how different legal frameworks and institutional architectures influenced such response. The collection engages with a set of issues as diverse as they are interrelated across countries and over time: the regulatory attitude of British authorities toward the banking system and the stock exchange market in the nineteenth and twentieth centuries; the comparative evolution of bankruptcy laws and procedures; the link between state, regulation and governance in the evolution of the US and French financial systems; the emergence of banking regulation and supervision by central banks; the regulation and supervision of international financial markets since the 1950s; and the connection between deregulation and banking crises at the end of the past century. Taken as a whole, the chapters offer an intriguing insight into the differing ways western countries approached and responded to the challenges of the international financial system, and the legacy of this on the modern world. In so doing the volume holds up to historical scrutiny the debate as to whether overt state regulation of financial markets always has a negative affect on economic growth, or whether it can be an essential tool for developing nations in their efforts to expand their economies.

Author : Marc Flandreau,Carl-Ludwig Holtfrerich,Harold James
Publisher : Cambridge University Press
Page : 290 pages
File Size : 53,8 Mb
Release : 2003
Category : Business & Economics
ISBN : 9780521819954

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International Financial History in the Twentieth Century by Marc Flandreau,Carl-Ludwig Holtfrerich,Harold James Pdf

The essays, written by leading experts, examine the history of the international financial system in terms of the debate about globalization and its limits. In the nineteenth century, international markets existed without international institutions. A response to the problems of capital flows came in the form of attempts to regulate national capital markets (for instance through the establishment of central banks). In the inter-war years, there were (largely unsuccessful) attempts at designing a genuine international trade and monetary system; and at the same time (coincidentally) the system collapsed. In the post-1945 era, the intended design effort was infinitely more successful. The development of large international capital markets since the 1960s, however, increasingly frustrated attempts at international control. The emphasis has shifted in consequence to debates about increasing the transparency and effectiveness of markets; but these are exactly the issues that already dominated the nineteenth-century discussions.

Author : Charles P. Kindleberger
Publisher : Routledge
Page : 558 pages
File Size : 48,9 Mb
Release : 2015-06-03
Category : Business & Economics
ISBN : 9781136805776

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A Financial History of Western Europe by Charles P. Kindleberger Pdf

This is the first history of finance - broadly defined to include money, banking, capital markets, public and private finance, international transfers etc. - that covers Western Europe (with an occasional glance at the western hemisphere) and half a millennium. Charles Kindleberger highlights the development of financial institutions to meet emerging needs, and the similarities and contrasts in the handling of financial problems such as transferring resources from one country to another, stimulating investment, or financing war and cleaning up the resulting monetary mess. The first half of the book covers money, banking and finance from 1450 to 1913; the second deals in considerably finer detail with the twentieth century. This major work casts current issues in historical perspective and throws light on the fascinating, and far from orderly, evolution of financial institutions and the management of financial problems. Comprehensive, critical and cosmopolitan, this book is both an outstanding work of reference and essential reading for all those involved in the study and practice of finance, be they economic historians, financial experts, scholarly bankers or students of money and banking. This groundbreaking work was first published in 1984.

Author : Youssef Cassis,Eric Bussière
Publisher : OUP Oxford
Page : 382 pages
File Size : 44,9 Mb
Release : 2005-01-20
Category : Business & Economics
ISBN : 9780191533471

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London and Paris as International Financial Centres in the Twentieth Century by Youssef Cassis,Eric Bussière Pdf

London and Paris, the world's two leading financial centres in the nineteenth century, experienced differing fortunes during the twentieth century. While London remained an international financial centre, Paris' influence declined. Yet over the last twenty years deregulation, internationalization, and the advent of the single currency have reactivated their competition in ways reminiscent of their old rivalry before the First World War. This book provides a long-term perspective on the development of each centre, with special attention devoted to the pre-1914 years and to the last decades of the twentieth century, in order to contrast these two eras of globalization. The chapters include both archive-based and synthetic surveys and are written by the leading specialists of the field. This comparison between Europe's two leading capital cities will also provide new insights into two important subjects: the political economy of Britain and France in the twentieth century, and the history of international financial centres. As much as a comparison between London and Paris as international financial centres, this book is an Anglo-French comparison; in other words, it considers, through the prism of finance, several aspects of the two countries' economic, business, social, and political histories. It includes contributions from leading banking, financial, and economic historians, and will be of interest to academics, researchers, and students of Financial and Economic History, and the role of London and Paris in particular.

Author : Edwin Green,John Lampe
Publisher : Routledge
Page : 304 pages
File Size : 48,6 Mb
Release : 2017-03-02
Category : History
ISBN : 9781351947473

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Crisis and Renewal in Twentieth Century Banking by Edwin Green,John Lampe Pdf

Crisis and Renewal in Twentieth Century Banking explores the behaviour of banks at times of war, revolution, civil war, social turmoil, and reconstruction. Analysing the history and archives of banks, it discovers examples of how banking is affected by political and social upheavals; how banks may influence the outcome of such events; how banking has recovered from periods of intense political and social stress; and how the archives of banks provide remarkable testimony to events in the wider world. By examining the setting of different banking markets in the last century, up to and including the transformation of Eastern and South Eastern Europe in the 1990s, this book marks a new direction for international discussion and research. Contributors include senior historians and archivists from Europe and the United States. Contributions include papers on Russia and foreign banks, 1917-30; depression and crisis in Central Europe in the 1930s; Civil War in Spain; post-war reconstruction in banking in Germany and the Far East; and crisis and renewal in South East Europe. The papers published in this collection were first presented at the twelfth Annual Conference of the European Association for Banking History, held in Ljubljana, Slovenia, in May 2001, and hosted by the Bank of Slovenia and the Nova Ljubljanska Banka.

Author : Alice Teichova,Ginette Kurgan-van Hentenryk,Dieter Ziegler
Publisher : Cambridge University Press
Page : 460 pages
File Size : 40,9 Mb
Release : 1997-05-15
Category : Business & Economics
ISBN : 0521573610

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Banking, Trade and Industry by Alice Teichova,Ginette Kurgan-van Hentenryk,Dieter Ziegler Pdf

An account of the rise of banking since the Middle Ages and its place in the modern international economy, first published in 1997.

Author : Luigi De Rosa
Publisher : Routledge
Page : 301 pages
File Size : 43,8 Mb
Release : 2017-11-22
Category : Business & Economics
ISBN : 9781351754163

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International Banking and Financial Systems by Luigi De Rosa Pdf

This title was first published in 2003. In this volume of essays - based on papers delivered to 2001 conference, International Banking and Financial Systems - leading European bankers and banking historians give their assessment of the evolution of central banking in 20th-century Europe. As well as providing a historical perspective, the volume also explores how the lessons of the 20th century may be brought to bear on current and future trends in central banking. In so doing, this volume provides an insight into the ways in which economic stability and growth has been, and can be, promoted.

Author : Youssef Cassis,Richard S. Grossman,Catherine R. Schenk
Publisher : Oxford University Press
Page : 552 pages
File Size : 55,6 Mb
Release : 2016-06-23
Category : Business & Economics
ISBN : 9780191633218

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The Oxford Handbook of Banking and Financial History by Youssef Cassis,Richard S. Grossman,Catherine R. Schenk Pdf

The financial crisis of 2008 aroused widespread interest in banking and financial history among policy makers, academics, journalists, and even bankers, in addition to the wider public. References in the press to the term 'Great Depression' spiked after the failure of Lehman Brothers in November 2008, with similar surges in references to 'economic history' at various times during the financial turbulence. In an attempt to better understand the magnitude of the shock, there was a demand for historical parallels. How severe was the financial crash? Was it, in fact, the most severe financial crisis since the Great Depression? Were its causes unique or part of a well-known historical pattern? And have financial crises always led to severe depressions? Historical reflection on the recent financial crises and the long-term development of the financial system go hand in hand. This volume provides the material for such a reflection by presenting the state of the art in banking and financial history. Nineteen highly regarded experts present chapters on the economic and financial side of banking and financial activities, primarily though not solely in advanced economies, in a long-term comparative perspective. In addition to paying attention to general issues, not least those related to theoretical and methodological aspects of the discipline, the volume approaches the banking and financial world from four distinct but interrelated angles: financial institutions, financial markets, financial regulation, and financial crises.

Author : Juliette Levy
Publisher : Penn State Press
Page : 176 pages
File Size : 40,8 Mb
Release : 2015-11-04
Category : History
ISBN : 9780271058870

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The Making of a Market by Juliette Levy Pdf

During the nineteenth century, Yucatán moved effectively from its colonial past into modernity, transforming from a cattle-ranching and subsistence-farming economy to a booming export-oriented agricultural economy. Yucatán and its economy grew in response to increasing demand from the United States for henequen, the local cordage fiber. This henequen boom has often been seen as another regional and historical example of overdependence on foreign markets and extortionary local elites. In The Making of a Market, Juliette Levy argues instead that local social and economic dynamics are the root of the region’s development. She shows how credit markets contributed to the boom before banks (and bank crises) existed and how people borrowed before the creation of institutions designed specifically to lend. As the intermediaries in this lending process, notaries became unwitting catalysts of Yucatán’s capitalist transformation. By focusing attention on the notaries’ role in structuring the mortgage market rather than on formal institutions such as banks, this study challenges the easy compartmentalization of local and global relationships and of economic and social relationships.

Author : Alice Teichova,Terence Richard Gourvish,Ágnes Pogány
Publisher : Edward Elgar Publishing
Page : 336 pages
File Size : 50,8 Mb
Release : 1994
Category : Business & Economics
ISBN : STANFORD:36105009799490

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Universal Banking in the Twentieth Century by Alice Teichova,Terence Richard Gourvish,Ágnes Pogány Pdf

This volume addresses aspects of banking in 20th-century European market economies. It examines the historical role of banks in using domestic and foreign financial resources, showing how from the 1880s onwards, banks became an integral part of the capital market in continental Europe. The study analyzes the relationship between banks and industry, and the impacts on inflation and the crisis-prone interwar period.

Author : Fausto Piola Caselli
Publisher : Routledge
Page : 256 pages
File Size : 54,7 Mb
Release : 2015-10-06
Category : History
ISBN : 9781317314233

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Government Debts and Financial Markets in Europe by Fausto Piola Caselli Pdf

Contains essays by historians of economic and financial history. It illuminates the relationships between government indebtedness and the development of financial markets in Europe from the late Middle Ages to the late twentieth century.

Author : Harold James,Carl-Ludwig Holtfrerich,Marc Flandreau
Publisher : Unknown
Page : 128 pages
File Size : 47,7 Mb
Release : 2010
Category : International economic integration
ISBN : OCLC:848611270

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International Financial History in the Twentieth Century by Harold James,Carl-Ludwig Holtfrerich,Marc Flandreau Pdf

Author : Jeremy Atack,Larry Neal
Publisher : Cambridge University Press
Page : 497 pages
File Size : 54,9 Mb
Release : 2009-03-16
Category : Business & Economics
ISBN : 9781139477048

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The Origins and Development of Financial Markets and Institutions by Jeremy Atack,Larry Neal Pdf

Collectively, mankind has never had it so good despite periodic economic crises of which the current sub-prime crisis is merely the latest example. Much of this success is attributable to the increasing efficiency of the world's financial institutions as finance has proved to be one of the most important causal factors in economic performance. In a series of insightful essays, financial and economic historians examine how financial innovations from the seventeenth century to the present have continually challenged established institutional arrangements, forcing change and adaptation by governments, financial intermediaries, and financial markets. Where these have been successful, wealth creation and growth have followed. When they failed, growth slowed and sometimes economic decline has followed. These essays illustrate the difficulties of co-ordinating financial innovations in order to sustain their benefits for the wider economy, a theme that will be of interest to policy makers as well as economic historians.

Author : John Singleton
Publisher : Cambridge University Press
Page : 351 pages
File Size : 47,8 Mb
Release : 2010-11-25
Category : Business & Economics
ISBN : 9781139495202

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Central Banking in the Twentieth Century by John Singleton Pdf

Central banks are powerful but poorly understood organisations. In 1900 the Bank of Japan was the only central bank to exist outside Europe but over the past century central banking has proliferated. John Singleton here explains how central banks and the profession of central banking have evolved and spread across the globe during this period. He shows that the central banking world has experienced two revolutions in thinking and practice, the first after the depression of the early 1930s, and the second in response to the high inflation of the 1970s and 1980s. In addition, the central banking profession has changed radically. In 1900 the professional central banker was a specialised type of banker, whereas today he or she must also be a sophisticated economist and a public official. Understanding these changes is essential to explaining the role of central banks during the recent global financial crisis.