THE EMERGENCE OF A NATIONAL CAPITAL-MARKET IN ENGLAND, 1710-1880

• 成果类型: Article
• 署名作者: Harvard University
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050700012365
• 发表日期: 1993
• 页码: 1-24
• 关键词: joint stock shares; interest-rates; 18th-century

摘要

Was eighteenth-century London's financial market linked to domestic real capital markets? When did English capital markets cease to be regionally segmented? We compare London interest rates with annual registered property transactions in Middlesex and in West Yorkshire. This evidence, though tentative, suggests that London financial markets were weakly linked to local real capital markets in the mid-eighteenth century. By the late eighteenth century those links were strong. Regional markets were still segmented in the mid-eighteenth century but were integrated by the time of the Napoleonic War.