Political Economy Origins of Financial Markets in Europe and Asia

We provide historical evidence from London, Amsterdam and Hong Kong which highlights the essential role played by governments in kick-starting financial development. In the cases of London and Amsterdam, the emergence of financial markets was a by-product of the rise of large trading monopolies. The...

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Veröffentlicht in:	World development 2011-05, Vol.39 (5), p.686-699
Hauptverfasser:	Andrianova, Svetlana, Demetriades, Panicos, Xu, Chenggang
Format:	Artikel
Sprache:	eng
Schlagworte:	Asia Capital market Cross-national analysis Economic development Economic history Europe Finance Financial history Financial systems Historical analysis Innovation Institutions Monopolies monopoly Political economy Politics Property rights property rights monopoly politics institutions finance Securities markets State intervention Studies
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