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London and Paris as International Financial Centres in the Twentieth Century

London and Paris as International Financial Centres in the Twentieth Century

Author: Youssef Cassis; Eric Bussière
Publisher: Oxford University Press
ISBN: 9780199269495
Published In: January 2005
Format: Hardback , 382 pages
Jurisdiction: France, U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Comparative analysis of the respective roles of London and Paris as international finance centres in the twentieth century
Contrasts the different fortunes of both centres
Examines how deregulation, internationalization, and the advent of the single currency over the last twenty years has reactivated their rivalry
Includes contributions from leading banking, financial, and economic historians including Philip Cottrell, Niall Ferguson, Marc Flandreau, Ranald Michie, and Richard Roberts

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.

Readership: Academics, researchers and students of Banking, Financial, and Economic History.

1: Youssef Cassis: Introduction: Comparative Perspectives on London and Paris as International Financial Centres, 1890-2000
Part I: London and Paris in Long-Term Perspective, 1890-2000
2: Ranald Michie: A Financial Phoenix: The City of London in the Twentieth Century
3: Alain Plessis: When Paris Dreamed of Competing with the City...
Part II: 'Golden Age', 1890-1914
4: Niall Ferguson: The City of London and British Imperialism: New Light on an Old Question
5: Marc Flandreau and François Gallice: Paris, London, and the International Money Market: Lessons from Paribas, 1885-1913
6: Youssef Cassis: London Banks and International Finance, 1890-1914
7: Samir Saul: New Issues, Syndicates, and the Paris Capital Market, 1890-1914
Part III: From Global Reach to Regional Withdrawal, 1914-58
8: Philip L. Cottrell: Established Connections and New Opportunities: London as a Financial Centre, 1914-58
9: Hubert Bonin: The Challenged Competitiveness of the Paris Capital Market, 1914-58
Part IV: The Road to Globalization, 1958-80
10: Catherine Schenk: Crisis and Opportunity: The Policy Environment of International Banking in the City of London, 1958-80
11: Olivier Feiertag: The International Opening up of the Paris Bourse: Debt-Economy Curbs and Market Dynamics
12: Mae Baker and Michael Collins: London as an International Banking Centre, 1958-80
13: Eric Bussière: French Banks and the Eurobonds Issue Market in the 1960s
Part V: Internationalization and Globalization, 1980-2000
14: Richard Roberts: London as an International Financial Centre, 1980-2000: Global Powerhouse or Wimbledon EC2?
15: André Straus: The Future of Paris as an International Centre from the Perspective of European Integration

Youssef Cassis, Professor of Contemporary Economic History, University of Grenoble II, and Visiting Fellow at the London School of Economics and Politics, and Eric Bussière, Professor of Contemporary European History, University of Paris-IV Sorbonne

Contributors:
Mae Baker, Lecturer at the University of Leeds
Hubert Bonin, Professor at the Institut d'études politiques de Bordeaux
Eric Bussière, Professor at the University of Paris IV
Youssef Cassis, Professor at the University Pierre Mendès France of Grenoble and a Visiting Fellow at the Business History Unit, London School of Economics
Michael Collins, Professor at the University of Leeds
Philip Cottrell, Professor at the University of Leicester
Olivier Feiretag, Lecturer at the University of Paris X-Nanterre
Niall Ferguson, Professor at the University of Oxford
Marc Flandreau, Professor at the Institut d'Etudes Politiques de Paris
François Gallice, Researcher at the University of Paris X-Nanterre
Ranald Michie, Professor at the University of Durham
Alain Plessis, Professor Emeritus at the University Paris X-Nanterre
Richard Roberts, Reader at the University of Sussex
Samir Saul, Professor at the University of Montréal
Catherine Schenk, Senior Lecturer at the University of Glasgow
André Straus, Research Fellow at the CNRS

"The editors have more skilfully directed this Anglo-French band to common issues and questions than editors of conference volumes normally do, and Cassis' nine-page introduction usefully poses an agenda of questions and a comparative framework to set the reader thinking." - Business History