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Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries

Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries

Author: Laure Quennouëlle-Corre; Youssef Cassis
Publisher: Oxford University Press
ISBN: 9780199603503
Published In: July 2011
Format: Hardback , 288 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Comparative approach with international references
Original archival sources and statistical databases
Innovative research on financial centres and international finance

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.

Readership: Academics, researchers, and students in Business and Economic history, Economics, History, and Politics; those working in finance, those interested in understand the current crisis from a broad historical perspective

1: Laure Quennouëlle-Corre: Introduction
2: Ranald Michie: The Battle of the Bourses? Competition between Stock Exchanges in the 20th
3: Stefano Ugolini: 1. An 'Atypical' Case? The First Emergence of Brussels as an International Financial Centre 1830-1860
4: Carlos Marichal: 1. 'Rivalry and Collaboration': Relations between Buenos Aires Merchant Bankers and European Bankers in the Issue of Argentine Government Bonds in the 1880s
5: Leonid Borodkin and Gregory Perelman: St. Petersburg Exchange: On the Road to Maturity. Industrial Stock Index, 1897-1914
6: Leslie Hannah: 1. London as The Global Market for Corporate Securities before 1914
7: Richard Sylla: Wall Street Transitions, 1880-1920: From National to World Financial Centre
8: Laure Quennouëlle-Corre: The Decline of Paris as an International Financial Centre 1914-1940
9: Ileana Racianu: The Banque de France, The Bank of England and the Stabilization of the Romanian Currency in Late 1920s
10: André Straus: An Integrated European Market Without an International Centre: 1945-1962?
11: Catherine Schenk: The Re-emergence of Hong Kong as an International Financial Centre in Asia, 1960-1978 : Contested Internationalization

Edited by Laure Quennouëlle-Corre, Researcher, Centre National de la Recherche Scientifique, Paris, andYoussef Cassis, Professor of Economic History, European University Institute, Florence

Youssef Cassis is Professor of Economic History, at the European University Institute, Florence. His work mainly focuses on banking and financial history, as well as business history more generally. His numerous publications on the subject include City Bankers, 1890-1914 (1994), Big Business: The European Experience in the Twentieth Century (1997), Capitals of Capital: A History of International Financial Centres, 1780-2005 (2006), and Crises and Opportunities: the Shaping of Modern Finance (2011).

Laure Quennouëlle-Corre teaches economic and financial history at the University of Paris 1-Panthéon-Sorbonne. Her research focuses on the history of capital markets especially the Paris Bourse, and the role of financial institutions in the 20th century (the Treasury, the stock markets, and the investment banks). She is particularly involved in oral history and biographical approaches. She has recently published Politique et finance dans l'Europe du XXe siècle. Entretien avec Robert Jablon (with R. Jablon and A. Straus; P.I.E. Peter Lang, Brussels, 2010).

Contributors:
Leonid Borodkin, Professor, the Lomonosov Moscow State University
Youssef Cassis, Professor, the University of Geneva
Leslie Hannah, Visiting Professor, the London School of Economics
Carlos Marichal, Professor, Il Colegio di Mexico
Ranald Michie, Professor, the University of Durham
Gregory Perelman, Lecturer, the California State University
Laure Quennouëlle-Corre, Chargée de Recherches, CNRS (Paris)
Ileana Racianu, Assistant Professor, the University of Geneva
Catherine Schenk, Professor, the University of Glasgow
André Straus, Director of Research, CNRS (Paris)
Richard Sylla, Professor, the Stern Business School, New York University
Stefano Ugolini, Norges Bank Post-Doctoral Fellow, the Graduate Institute, Geneva