Convergence and Divergence of National Financial Systems: Evidence from the Gold Standards, 1871-1971 (Financial History, 13)

Hardcover, xiv + 306 pages, NOT ex-library. Limited light wear, book is clean and bright with unmarked text, free of inscriptions and stamps, firmly bound. Issued without a dust jacket. -- This book offers an in-depth analysis of the evolution of global financial systems through the period of the gold standards, examining how various national financial systems either converged or diverged in their practices from 1871 to 1971. It delves into the social and institutional mechanisms that shaped these systems, including the significant impacts of historical shocks such as wars and financial crises. With case studies ranging from the French stock market and investment banking patterns in Europe, to the Spanish Civil War's financing and Southeast Europe's adoption of the gold standard, the book reveals the economic, political, and social forces behind financial systems resilience or collapse. Topics include national banking crises, monetary constraints, and the dynamics between state and market forces in shaping financial policies. Through contributions from experts, it provides both theoretical perspectives and detailed historical data, illustrating the complex interplay between financial integration, regulation, and economic nationalism during this transformative century. The volume also discusses how central financial institutions such as the Bank of England and the Banque de France influenced global financial trends, while smaller markets like those in Southeast Europe demonstrated unique responses to international financial pressures. This scholarly work is an essential resource for researchers and students of economic history, finance, and international relations, providing crucial insights into the forces driving financial system convergence and divergence during the age of the gold standard. -- Contents: Introduction / Patrice Baubeau; Part I: The Social Mechanisms of Financial Convergence 1 Organizations of National Financial Markets and Convergence of Practices: Institutions and Networks of Parisian Brokers in Nineteenth-Century Parisian Financial Markets / Patrick Verley 2 The Resistance of the Lille Marketplace to National Convergence: A Regional Financial System between Autonomy and Sclerosis, 1880-1914 / Jean-Luc Mastin 3 Competition amongst the French Stock Exchanges during the Second World War / Kim Oosterlink & Angelo Riva; Part II: National Convergences and Divergences in the Long Term 4 Shocks Impact on Long-Term Market Correlations: Portfolio Diversification and Market Integration between France and the United States / David Le Bris 5 Assessing Convergence in European Investment Banking Patterns until 1914 / Carlo Brambilla 6 Swiss Banking Crises During the Gold Standards, 1906-71 / Dirk Drechsel; Part III: Convergence and Historical Shocks 7 Determinants of National Financial Systems: The Role of Historical Events / Patrice Baubeau & Anders Ögren 8 The Financing of the Spanish Civil War, 1936-1939 / Pablo Martín Aceña, Elena Martinez Ruiz & María A. Pons 9 London Financial Crisis of 1914 / Richard Roberts; Part IV: Convergence and Monetary Constraint 10 Establishment of the Gold Standard in Southeast Europe: Convergence to a New System or Divergence from an Old One? / Kalina Dimitrova & Luca Fantacci 11 Money Creation under the Gold Standard: The Origins of the Italian Banking Crisis of 1893 / Antoine Gentier 12 Financing Germany: Amsterdam's Role as an International Financial Centre, 1914-1931 / Jeroen Euwe; Notes; Works Cited; Index.…