explicit presentation of some of those stylized facts in the form of a brief, chronologically structured narrative. In keeping with the broad scope of this volume we begin by going back at least two hundred years, to the growth of an integrated national capital market in England in the 18th century (see Neal Chapter). This starting point has the advantage of calling attention to a number of important points. First, the form of integration by which a central market (London) for a standardized good (government bonds or ...
Read More
explicit presentation of some of those stylized facts in the form of a brief, chronologically structured narrative. In keeping with the broad scope of this volume we begin by going back at least two hundred years, to the growth of an integrated national capital market in England in the 18th century (see Neal Chapter). This starting point has the advantage of calling attention to a number of important points. First, the form of integration by which a central market (London) for a standardized good (government bonds or consols) came to serve as linkage between two or more hitherto separate (regional) markets, represents a typical and important form of fInancial (and economic) integration. In Kindleberger's terminology it is the "integration via third parties" form (where, say, security prices in A and B converge): 2 A C B instead of A B. In the 18th-century English context this central market provided a widely available index of the opportunity costs of alternative investments, the importance of which should not be underestimated, for it contributed to national economic integration in England (NEAL, 1994). Second, this example illustrates an important point of political economy. The prerequisite for the development of the central market mentioned was the establishment of sound public fInances based on the state's widely accepted power to tax.
Read Less
Add this copy of European Economic Integration as a Challenge to to cart. $103.32, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2011 by Springer.
Add this copy of European Economic Integration as a Challenge to to cart. $116.20, like new condition, Sold by GreatBookPrices rated 4.0 out of 5 stars, ships from Columbia, MD, UNITED STATES, published 2011 by Springer.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Fine. Trade paperback (US). Glued binding. 558 p. Contains: Tables, black & white. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
Add this copy of European Economic Integration as a Challenge to to cart. $116.45, new condition, Sold by GreatBookPrices rated 4.0 out of 5 stars, ships from Columbia, MD, UNITED STATES, published 2011 by Springer.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
New. Trade paperback (US). Glued binding. 558 p. Contains: Tables, black & white. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
Add this copy of European Economic Integration as a Challenge to to cart. $45.51, very good condition, Sold by Bookmonger.Ltd rated 4.0 out of 5 stars, ships from Hillside, NJ, UNITED STATES, published 1995 by Springer.
All Editions of European Economic Integration as a Challenge to Industry and Government: Contemporary and Historical Perspectives on International Economic Dynamics
