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History of financial globalization

Calomiris, C. W. and Neal, L. (2013) History of financial globalization. In: Caprio, Gerard, (ed.) Handbook of Key Global Financial Markets, Institutions, and Infrastructure. Elsevier, London, pp. 3-14. ISBN 9780123978738

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Identification Number: 10.1016/B978-0-12-397873-8.00001-3

Abstract

This chapter reviews the many contributions to the encyclopedia's historical section. Those chapters track the ebb and flow of financial globalization since Roman times around the world. They document the process of financial development and innovation, the growth of financial institutions and markets, and their global linkages, as well as the history of financial crises, and the elements of different types of financial crises that appear similar or different over the ages. Throughout the history of financial globalization and financial development, government initiatives have played an active role, including in chartering banks, establishing joint-stock companies to manage international trade and finance, and creating or encouraging new financial instruments (bills of exchange, sovereign debts, and shares in companies) that served governments' fiscal interests or the expansion of empire via trade.

Item Type: Book Section
Official URL: http://www.elsevier.com/
Additional Information: © 2013 Elsevier Inc.
Divisions: Economic History
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
JEL classification: N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations
Sets: Departments > Economic History
Collections > Economists Online
Date Deposited: 12 Sep 2013 14:53
Last Modified: 12 Sep 2013 14:53
URI: http://eprints.lse.ac.uk/id/eprint/52540

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