The Rise of Financial Capitalism: International Capital Markets in the Age of Reason

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Cambridge University Press, Nov 26, 1993 - Business & Economics - 292 pages
This work establishes the existence of a sophisticated and smoothly functioning system of financial markets in the mercantile states of northwestern Europe throughout the 1700s. Based on computer analysis of thousands of price quotes from the financial press of the eighteenth century, the results should force both historians and economists to reevaluate their understanding of the evolution of financial markets and their importance for the economic developments of that era.
 

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Contents

Historical background for the rise of financial capitalism commercial revolution rise of nationstates and capital markets
1
The development of an information network and the international capital markets of London and Amsterdam
20
The early capital markets of London and Amsterdam
44
The Banque Royale and the South Sea Company how the bubbles began
62
Were the Mississippi and South Sea bubbles rational?
80
The Bank of England and the South Sea Company how the bubbles ended
89
The English and Dutch East India companies how the East was won
118
The integration of the English and Dutch capital markets in peace and war
141
The English and Dutch capital markets in panics
166
The capital markets during revolutions war and peace
180
A tale of two revolutions international capital flows 17921815
201
The Amsterdam and London stock markets 180025
223
Endofmonth share prices
231
Bibliography
259
Index
271
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