Convergence and Divergence of National Financial Systems: Evidence from the Gold Standards, 1871-1971 (Financial History)

Coming out of the Codisyna project which looked at national financial systems during the Gold Standard years of 1871-1971, this collection of essays aims to form a focused, original and constructive approach to examining the question of convergence and divergence in Europe. With contemporary as well as historical relevance, this study will appeal to historians and economists as well as those with a professional or scholarly interest in the world of banking and finance. Publisher's note Acknowledgements ......Page 10 List of Figures and Tables ......Page 12 Introduction ......Page 16 1. Organization of National Financial Markets and Convergence of Practices ......Page 24 2. The Resistance of the Lille Marketplace to National Convergence ......Page 44 3. Competition Among the French Stock Exchanges During the Second World War ......Page 66 4. Shocks Impact on Long-Term Market Correlations ......Page 84 5. Assessing Convergence in European Investment Banking Patterns Until 1914......Page 104 6. Swiss Banking Crises During the Gold Standards, 1906–71......Page 124 7. Determinants of National Financial Systems ......Page 142 8. The Financing of the Spanish Civil War, 1936–9 ......Page 160 9. The London Financial Crisis of 1914 ......Page 176 10. The Establishment of the Gold Standard in Southeast Europe ......Page 194 11. Money Creation Under the Gold Standard ......Page 212 12. Financing Germany......Page 234 Notes ......Page 256 Works Cited ......Page 292 Index ......Page 316 Acknowledgements 10 List of Figures and Tables 12 Introduction 16 1. Organization of National Financial Markets and Convergence of Practices 24 2. The Resistance of the Lille Marketplace to National Convergence 44 3. Competition Among the French Stock Exchanges During the Second World War 66 4. Shocks Impact on Long-Term Market Correlations 84 5. Assessing Convergence in European Investment Banking Patterns Until 1914 104 6. Swiss Banking Crises During the Gold Standards, 1906–71 124 7. Determinants of National Financial Systems 142 8. The Financing of the Spanish Civil War, 1936–9 160 9. The London Financial Crisis of 1914 176 10. The Establishment of the Gold Standard in Southeast Europe 194 11. Money Creation Under the Gold Standard 212 12. Financing Germany 234 Notes 256 Works Cited 292 Index 316 185196648X,9781851966486,1851966692,9781851966691 Coming out of the Codisyna project which looked at national financial systems during the Gold Standard years of 1871-1971, this collection of essays aims to form a focused, original and constructive approach to examining the question of divergence and/or convergence in Europe. With contemporary as well as historical relevance, this study will appeal to historians and economists as well as those with a professional or scholarly interest in the world of banking and finance.