Evolving Financial Markets and International Capital Flows
Evolving Financial Markets and International Capital Flows
This study examines the impact of British capital flows on the evolution of capital markets in four countries--Argentina, Australia, Canada, and the United States--over the years 1865 to 1914. In substantive chapters on each of the countries it offers parallel histories of the evolution of their financial infrastructures--commercial banks, nonbank intermediaries, primary security markets, formal secondary security markets, and the institutions that provide the international financial links connecting the frontier country with the British capital market.
- Most comprehensive analysis ever of British investment in the Americas and Australia in late nineteenth- early twentieth-century history
- Authors are world-renowned economic historians
- Rich in both empirical details and implications for current macro investment policy
Reviews & endorsements
"An important book which deserves a thoughtful reading from economists, historians, and financial prognosticators alike." Virginia Quarterly Review
"Lance Davis and the late Robert Gallman have produced a monumental book... the material is well organized... [it] will be a reference for years to come." Alan M. Taylor, EH.NET
Product details
June 2011Paperback
9780521166089
996 pages
229 × 152 × 57 mm
1.43kg
Available
Table of Contents
- 1. Institutional invention and innovation: foreign capital transfers and the evolution of the domestic capital markets in four frontier countries: Argentina, Australia, Canada, and the United States of America, 1865–1914
- 2. The United Kingdom
- 3. International capital movements, domestic capital markets, and American economic growth, 1865–1914
- 4. Domestic savings, international capital flows, and the evolution of domestic capital markets: the Canadian experience
- 5. Domestic saving, international capital flows, and the evolution of domestic capital markets: the Australian experience
- 6. Argentine savings, investment, and economic growth before World War I
- 7. Lessons from the past: international financial flows and the evolution of capital markets, Britain and Argentina, Australia, Canada, and the United States before World War I
- 8. Skipping ahead: the evolution of the world's finance markets 1914–90: a brief sketch
- 9. Lessons from the past/bibliography.
