The State, the Financial System and Economic Modernization

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With chapters focusing on a number of European countries, as well as North and South America, and covering approximately 150 years of development, this book demonstrates the key role that finance has played in economic change. Thanks to the variety of countries studied, it is shown that financial systems did not develop uniformly; on the contrary, divergent systems came into being and persisted. Insights into the primacy of the state's role in the financial development of the pre-industrial era have not carried over into the historiography of the industrial era itself, so never before have the insights developed here been brought together in a systematic manner. The aim is to demonstrate through comparative historical analysis the richness of the history of modern financial systems, and to restore the state to its primary role in the shaping of those systems. The book makes a unique contribution to financial historiography, and thus will be of interest to economists and to financial, economic and world historians.
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Editorial Reviews

From the Publisher
"...this book will be a useful reference both for established scholars and for students in search of research topics in the political economy of banking from a historical perspective." EH.NET
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Product Details

  • ISBN-13: 9780521037983
  • Publisher: Cambridge University Press
  • Publication date: 7/19/2007
  • Edition description: New Edition
  • Pages: 312
  • Sales rank: 1,259,831
  • Product dimensions: 5.98 (w) x 9.02 (h) x 0.71 (d)

Table of Contents

List of figures
List of tables
List of contributors
1 Introduction: comparative historical perspectives 1
2 Politics and banking in revolutionary and Napoleonic France 20
3 Belgian banking in the nineteenth and twentieth centuries: the Societe Generale and the Generale de Banque (1822-1997) 53
4 Banking liberalization in England and Wales, 1826-1844 75
5 Banking in Europe in the nineteenth century: the role of the central bank 118
6 Public policy, capital markets and the supply of industrial finance in nineteenth-century Germany 134
7 The role of banks and government in Spanish economic development, 1850-1935 158
8 Central banking and German-style mixed banking in Italy, 1893/5-1914: from coexistence to cooperation 182
9 State power and finance in Russia, 1802-1917: the Credit Office of the Finance Ministry and governmental control over credit institutions 210
10 The origins of banking in Argentina 224
11 Shaping the US financial system, 1690-1913: the dominant role of public finance 249
12 Cosmopolitan finance in the 1920s: New York's emergence as an international financial centre 271
Index 292
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