The formation of financial centers: a study in comparative economic history PDF Download

Author: Charles Poor Kindleberger
Publisher:
ISBN:
Category : Finance
Languages : en
Pages : 96

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Author: Charles P. Kindlemerger
Publisher:
ISBN:
Category :
Languages : en
Pages : 82

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Author: Anne O. Krueger
Publisher:
ISBN:
Category : Balance of payments
Languages : en
Pages : 52

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Author: Olivier Coispeau
Publisher: World Scientific
ISBN: 9813108843
Category : Business & Economics
Languages : en
Pages : 368

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Book Description
One thousand years ago, a handful of dynamic medieval city states developed trade at the frontier of capitalism. Their unique commercial ambition led to the emergence of finance capitals of international significance: Finance Masters. From the 11th century onward, international financial hubs, led by astute and bold merchant bankers and visionary leaders, inspired the numerous innovations that triggered economic revolutions in the last millennium and laid the ground for modern finance. This book explores not only classic financial centers, but also offshore financial centers and gambling centers to connect them to contemporary finance, and it also delves into the unique function of leading financial hubs to execute financial transactions over a wide geographical domain and transform the world economy.The 2008-2009 Great Recession showed that working on fundamental issues such as market structure, pricing mechanism, and games was indeed necessary but probably still insufficient to create the antibodies needed to mitigate systemic risk and prevent the irrational exuberance capable of triggering devastating economic crash. In the continuation of the Theory of Moral Sentiments written by Adam Smith in 1759, seventeen years before his Wealth of Nations, it seems a deeper historical understanding of the key success factors which quietly assembled in the backyard of our market economy can be a useful lifeline. This book aims to explain the widening gulf that emerged over time between economics, regulatory and ethical considerations necessary to a smoother functioning of markets.Finance Masters is also a book about the extraordinary men who led the evolution of modern finance with the innovations that changed the course of economic history. This book tries to capture the salient factors behind the geography of finance hubs from the early fairs in medieval England and Venice to Wall Street in contemporary New York. The development and the legacy of those 'Finance Masters' deserve more attention to reflect upon the evolution of incumbent players and better understand their possible future. This book a must read for economics and finance students and young finance professionals, who seek a broader and better understanding of the origins of modern economics.

Author: Richard Sylla
Publisher: Cambridge University Press
ISBN: 9780521037983
Category : History
Languages : en
Pages : 312

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By looking at a wide range of industrialized economies, including England, Belgium, Spain, Italy, Argentina, the United States, and "late developers" such as Russia, this book aims to show how important the state was in the development of financial systems. It examines the various factors that contributed to the emergence of diverse financial systems, and through comparative historical analysis draws together general themes, such as the inter-country differences in the mix of public and private finance, to produce a book that makes an unique contribution to financial and economic history.

Author: Kabir Hassan
Publisher: Edward Elgar Publishing
ISBN: 9781847205414
Category : Business & Economics
Languages : en
Pages : 472

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The Handbook of Islamic Banking comprises 25 studies by leading international experts on Islamic banking and finance specially commissioned to analyse the various debates and the current state of play in the field. From its origins thirty years ago, Islamic banking has expanded rapidly to become a distinctive and fast growing segment of the international banking and capital markets. Despite this expansion, Islamic banking still remains poorly understood in many parts of the Muslim world and continues to be a mystery in much of the West. This comprehensive Handbook provides a succinct analysis of the workings of Islamic banking and finance, accessible to a wide range of readers. At the same time, it seeks to bring the current research agenda and the main issues on Islamic banking before a wider audience. Islamic banking offers, as an alternative to conventional interest-based financing methods, a wide variety of financial instruments and investment vehicles based on profit-and-loss sharing arrangements. These are all explored in detail along with other subjects such as governance and risk management, securities and investment, structured financing, accounting and regulation, economic development and globalization. M. Kabir Hassan, Mervyn Lewis and the other contributors have created an authoritative and original reference work, which will contribute to a wider understanding of Islamic banking as well as provoking further discussion and research. It will be invaluable to all scholars, researchers and policymakers with an interest in this subject.

Author: Youssef Cassis
Publisher: Cambridge University Press
ISBN: 9780521893732
Category : Biography & Autobiography
Languages : en
Pages : 468

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Book Description
A highly distinguished team of contributors addresses the complex and crucial role of finance in European history during the period 1880-1960.

Author: P. L. Cottrell
Publisher: Ashgate Publishing, Ltd.
ISBN: 9780754661214
Category : Business & Economics
Languages : en
Pages : 358

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Book Description
Based on papers given to the European Association for Banking History conference held in Stockholm in 2002, this volume presents a broad investigation into the relationship between the centre and the periphery in banking. Focusing on the historical development of financial markets, from their emergence in the early modern period to today's global financial and capital markets, the chapters investigate how local, national and international relationships have affected and helped shape the banking industry over three-hundred years. This very wide-ranging discussion in time and place is provided by a group of international experts, encompassing bankers, economists, economic historians and historians, and will be of interest to all those with a scholarly or professional interest in the development of financial institutions.

Author: Yoon S. Park
Publisher: Springer Science & Business Media
ISBN: 9400925042
Category : Business & Economics
Languages : en
Pages : 271

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The development of international financial centers (IFCs) has paralleled the rapid expansion of international banking and Eurocurrency activities. During the past decade and a half, the international banking and financial markets have experienced phenomenal growth along with the parallel expansion of IFCs. The size of the Eurocurrency market grew from $110 billion in 1970 to over $4,000 billion by 1987, while the total international assets of all banking institutions rose from $130 billion to $4,800 billion during the same period. Some of the preeminent IFCs are playing a major role in the international financial markets, as demonstrated by the size of their international assets: Bahamas ($144 billion), Cayman Islands ($174 billion), Singapore ($150 billion), Hong Kong ($130 billion), Bahrain ($46 billion), and Panama ($32 billion). The patterns of Euroborrowing and Eurolending activities in these IFCs have been undergoing major changes. These changes came about as a result of the introduction of the floating exchange rate system in 1973, recent financial deregulation, internationalization of the financial markets, securitization of financial assets and liabilities, and global financial innovations. Since the pioneering work of Kindleberger in 1974 on the formation of financial centers, there has not been a comprehensive study to reflect the recent developments, trends and the mystique that have surrounded the IFCs' functions and operations in the international money and capital markets.

Author: Gordon L. Clark
Publisher: OUP Oxford
ISBN: 0191570540
Category : Business & Economics
Languages : en
Pages : 352

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Recent market turmoil, bank runs, global equities sell-off, and the 'credit crunch' have demonstrated the sophisticated and interconnected nature of financial markets today - seemingly localized problems have quickly spread, putting at risk the solvency of both local and global financial institutions. As these markets are increasingly complex, interconnected, and embedded in the daily lives of individuals, there is a pressing need to unravel and understand the complexities and prospects of this new and transformative social, political, and geographical paradigm. This book brings together a group of leading scholars from a range of disciplines to formulate a more holistic understanding of financial risk by rooting it in different environments, spatial scales, and disciplines. The result is an all-encompassing exposition of current and future financial risk management practices, possibilities, and problems.