haku: @author Wilson, J.W. / yhteensä: 1
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Tekijä: | Sylla, R. Wilson, J.W. Wright, R.E. |
Otsikko: | Integration of trans-Atlantic capital markets, 1790-1845 |
Lehti: | Review of finance
2006 : VOL. 10:4, p. 613-644 |
Asiasana: | international finance capital markets integration commodities securities trading history Europe USA |
Kieli: | eng |
Tiivistelmä: | During the 1790s, European investors began to purchase substantial quantities of U.S. government and corporate securities (here as: secrs.), a number of which were traded in markets on both sides of the Atlantic. Based on market price quotations compiled for the same secrs. in London and New York markets, it is asked if these early trans-Atlantic secrs. markets were integrated, and, if so, when they became integrated. There is little evidence found of market integration before 1816, and substantial evidence of it thereafter. Financial globalization began earlier than most have suspected. |
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