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Law and finance in Britain c.1900

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Listed:
  • Coyle, Christopher
  • Musacchio, Aldo
  • Turner, John D.

Abstract

In this paper, using new estimates of the size of the UK's capital market, we examine financial development and investor protection laws in Britain c.1900 to test the influential law and finance hypothesis. Our evidence suggests that there was not a close correlation between financial development and investor protection laws c.1900 and that the size of the UK's share market is a puzzle given the paucity of statutory investor protection. To illustrate that Britain was not unique in its approach to investor protection in this era, we examine investor protection laws across legal families c.1900.

Suggested Citation

  • Coyle, Christopher & Musacchio, Aldo & Turner, John D., 2019. "Law and finance in Britain c.1900," QUCEH Working Paper Series 2019-05, Queen's University Belfast, Queen's University Centre for Economic History.
    • Handle: RePEc:zbw:qucehw:201905
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    More about this item

    Keywords

    Common Law; Finance; Investor Protection; Law; UK;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

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