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This is an ongoing project, currently absorbed by the Microstructure of Stock Markets project, but deals with the spread of financial capitalism in the 19th century, 1815 - 1914, from Britain to the rest of the world. An early paper setting up the British case was published in the St. Louis Federal Reserve Review in 1998, Research/Stlfedrv.pdf. This used only part of an extensive data set, part of which are stock prices
for 50 representative stocks originally examined by Gayer, Rostow, and Schwartz
in Growth and Fluctuations in the British Economy, 1790-1850. |