This study examines the impact of British capital flows on the evolution of capital markets in four countries--Argentina, Australia, Canada, and the United States--over the years 1865 to 1914. In substantive chapters on each of the countries it offers parallel histories of the evolution of their financial infrastructures--commercial banks, nonbank intermediaries, primary security markets, formal secondary security markets, and the institutions that provide the international financial links connecting the frontier country with the British capital market.
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"An important book which deserves a thoughtful reading from economists, historians, and financial prognosticators alike." Virginia Quarterly Review
"Lance Davis and the late Robert Gallman have produced a monumental book... the material is well organized... [it] will be a reference for years to come." Alan M. Taylor, EH.NET
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