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Market Integration 1830–1890

  • Håkan Lobell
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)

Abstract

This chapter deals with financial market integration. Integration influences a number of properties of the financial system which are parts of the definition of a financial revolution and often referred to as links between finance and growth. Financial market integration is thus related to the second and third characteristics of a successful financial revolution, namely stable currency and private commercial banks involved in international and domestic financial business.1 Financial integration affects, among other things, liquidity and hence the way markets are working since it brings a wider number of actors and assets into a larger and potentially more efficient whole. The aim of this chapter is to examine how a number of institutional, legal and structural changes in the financial system have contributed to integration over the period 1830 to 1890.

Keywords

Foreign Exchange Banking System Foreign Trade Money Market Market Integration 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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© Håkan Lobell 2010

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  • Håkan Lobell

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