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Article: Political Economy Origins of Financial Markets in Europe and Asia

TitlePolitical Economy Origins of Financial Markets in Europe and Asia
Authors
Andrianova, SDemetriades, PXu, C
KeywordsFinance
Institutions
Monopoly
Politics
Property rights
Issue Date2011
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/worlddev
Citation
World Development, 2011, v. 39 n. 5, p. 686-699 How to Cite?
DOI: http://dx.doi.org/10.1016/j.worlddev.2010.10.001
AbstractWe provide historical evidence from London, Amsterdam and Hong Kong which highlights the essential role played by governments in kick-starting financial development. In the cases of London and Amsterdam, the emergence of financial markets was a by-product of the rise of large trading monopolies. These monopolies, partly created to improve public finances, were responsible for major financial innovations and helped to strengthen investors' property rights. In Hong Kong, where the financial development model was bank-based, a large banking monopoly with close links to both the British and Chinese governments, set up to finance international trade, played a similar role. © 2010 Elsevier Ltd.
Persistent Identifierhttp://hdl.handle.net/10722/153453
ISSN
0305-750X
2023 Impact Factor: 5.4
2023 SCImago Journal Rankings: 2.253
ISI Accession Number ID
WOS:000290082800002
References
References in Scopus

 

DC FieldValueLanguage
dc.contributor.authorAndrianova, Sen_HK
dc.contributor.authorDemetriades, Pen_HK
dc.contributor.authorXu, Cen_HK
dc.date.accessioned2012-08-02T03:13:52Z-
dc.date.available2012-08-02T03:13:52Z-
dc.date.issued2011en_HK
dc.identifier.citationWorld Development, 2011, v. 39 n. 5, p. 686-699en_HK
dc.identifier.issn0305-750Xen_HK
dc.identifier.urihttp://hdl.handle.net/10722/153453-
dc.description.abstractWe provide historical evidence from London, Amsterdam and Hong Kong which highlights the essential role played by governments in kick-starting financial development. In the cases of London and Amsterdam, the emergence of financial markets was a by-product of the rise of large trading monopolies. These monopolies, partly created to improve public finances, were responsible for major financial innovations and helped to strengthen investors' property rights. In Hong Kong, where the financial development model was bank-based, a large banking monopoly with close links to both the British and Chinese governments, set up to finance international trade, played a similar role. © 2010 Elsevier Ltd.en_HK
dc.languageeng-
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/worlddeven_HK
dc.relation.ispartofWorld Developmenten_HK
dc.rightsNOTICE: this is the author’s version of a work that was accepted for publication in World Development. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in World Development, [VOL 39, ISSUE 5, 2011] DOI 10.1016/j.worlddev.2010.10.001-
dc.rightsThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.-
dc.subjectFinanceen_HK
dc.subjectInstitutionsen_HK
dc.subjectMonopolyen_HK
dc.subjectPoliticsen_HK
dc.subjectProperty rightsen_HK
dc.titlePolitical Economy Origins of Financial Markets in Europe and Asiaen_HK
dc.typeArticleen_HK
dc.identifier.emailXu, C: cgxu@hku.hken_HK
dc.identifier.authorityXu, C=rp01118en_HK
dc.description.naturepostprint-
dc.identifier.doi10.1016/j.worlddev.2010.10.001en_HK
dc.identifier.scopuseid_2-s2.0-79953030645en_HK
dc.identifier.hkuros204823-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-79953030645&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume39en_HK
dc.identifier.issue5en_HK
dc.identifier.spage686en_HK
dc.identifier.epage699en_HK
dc.identifier.eissn1873-5991-
dc.identifier.isiWOS:000290082800002-
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridAndrianova, S=6506587881en_HK
dc.identifier.scopusauthoridDemetriades, P=6602159157en_HK
dc.identifier.scopusauthoridXu, C=23020300700en_HK
dc.identifier.citeulike8208397-
dc.identifier.issnl0305-750X-

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