|
||
• wydawnictwa polskie
• Zamów informacje o nowościach z wybranego tematu • kontakt
• Cookies na stronie |
EVOLVING FINANCIAL MARKETS AND INTERNATIONAL CAPITAL FLOWS.DAVIS L., GALLMAN R.wydawnictwo: CAMBRIDGE , rok wydania 2001, wydanie Icena netto: Evolving Financial Markets and International Capital Flows This study examines the impact of British capital flows on the evolution of capital markets in four countries - Argentina, Australia, Canada, and the United States - over the years 1870 to 1914. In substantive chapters on each country it offers parallel histories of the evolution of their financial infrastructures - commercial banks, non-bank intermediaries, primary security markets, formal secondary security markets, and the institutions that provide the international financial links connecting the frontier country with the British capital market. At one level, the work constitutes a quantitative history of the development of the capital markets of five countries in the late nineteenth century. At a second level, it provides the basis for a useable taxonomy for the study of institutional invention and innovation. At a third, it suggests some lessons from the past about modern policy issues. This monumental book by Lance Davis and the late Robert Gallman is a valuable tool for the student of the globalization of capital markets. Davis and Gallman expertly analyze the dimensions, institutions, and mechanisms of the massive flow of funds that went from British savers to finance the development of the economies of the nations of new settlement: Argentina, Australia, Canada and the United States, in the Golden Age from 1890-1914. Their main thesis is that institutional innovation to overcome the problems of asymmetric information, manifest in different forms in each of the four capital recipients, was crucial to the successful mobilization of the British capital inflows. This perspective distinguishes this book from its predecessors. - Michael D. Bordo, Rutgers University Davis and Gallman have provided a huge compendium of information and analysis. They show how powerful this kind of history is for an understanding of the development of the international capital markets. A brilliant picture. - Forrest Capie, City University Business School, UK Lance Davis and the late Robert Gallman have written an outstanding study of the relationship between the importation of British capital by Argentina, Australia, Canada, and the United States - the four countries of new settlement - during 1865-1914 and the accompanying redesign of their domestic financial structures. Individual chapters devoted to the supplier of capital and each of the country demanders enormously expand the scope of our knowledge of both financial markets and international capital flows. The study draws lessons based on the historical evidence, sketches the evolution of the world's financial markets since 1914, and then examines contemporary problems in Japan and developing economies in Latin America and Asia. - Anna J. Schwartz, National Bureau of Economic Research Contents1. Institutional invention and innovation: foreign capital transfers and the evolution of the domestic capital markets in four frontier countries: Argentina, Australia, Canada, and the United States of America, 1865-1914 2. The United Kingdom 3. International capital movements, domestic capital markets, and American economic growth, 1865-1914 4. Domestic savings, international capital flows, and the evolution of domestic capital markets: the Canadian experience 5. Domestic saving, international capital flows, and the evolution of domestic capital markets: the Australian experience 6. Argentine savings, investment, and economic growth before World War I 7. Lessons from the past: international financial flows and the evolution of capital markets, Britain and Argentina, Australia, Canada, and the United States before World War I 8. Skipping ahead: the evolution of the world's finance markets 1914-1990: a brief sketch 9. Lessons from the past Bibliography 986 pages
Po otrzymaniu zamówienia poinformujemy, |
