IDEAS home Printed from https://ideas.repec.org/a/cai/recosp/reco_581_0173.html
   My bibliography  Save this article

Global Electrification. Multinational Enterprise and International Finance in the History of Light and Power, 1880s-1914

Author

Listed:
  • William J. Hausman
  • Mira Wilkins
  • John L. Neufeld

Abstract

This work is part of a long-term research project on global electrification. Here we focus on the initial phase of electrification, from the 1880s to 1914, when multinational enterprise and international finance played a crucial role. Electrical equipment manufacturers were first movers in the establishment of operating electric utilities; however, since electric power facilities were highly capital intensive, outside investors needed to be brought in. Utility holding companies with very complex capital structures became major players in the establishment of electric utilities around the world, as did British “free-standing” companies. We discuss some of the European and British companies that brought light and power to the cities of the world.

Suggested Citation

  • William J. Hausman & Mira Wilkins & John L. Neufeld, 2007. "Global Electrification. Multinational Enterprise and International Finance in the History of Light and Power, 1880s-1914," Revue économique, Presses de Sciences-Po, vol. 58(1), pages 173-190.
  • Handle: RePEc:cai:recosp:reco_581_0173
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_581_0173
    Download Restriction: free

    File URL: http://www.cairn.info/revue-economique-2007-1-page-173.htm
    Download Restriction: free

    References listed on IDEAS

    as
    1. Presbitero, Andrea F. & Zazzaro, Alberto, 2011. "Competition and relationship lending: Friends or foes?," Journal of Financial Intermediation, Elsevier, vol. 20(3), pages 387-413, July.
    2. Berger, Allen N. & Rosen, Richard J. & Udell, Gregory F., 2007. "Does market size structure affect competition? The case of small business lending," Journal of Banking & Finance, Elsevier, vol. 31(1), pages 11-33, January.
    3. Arnoud W. A. Boot & Anjan V. Thakor, 2000. "Can Relationship Banking Survive Competition?," Journal of Finance, American Finance Association, vol. 55(2), pages 679-713, April.
    4. Berger, Allen N. & Udell, Gregory F., 2006. "A more complete conceptual framework for SME finance," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 2945-2966, November.
    5. Berger, Allen N & Udell, Gregory F, 1995. "Relationship Lending and Lines of Credit in Small Firm Finance," The Journal of Business, University of Chicago Press, vol. 68(3), pages 351-381, July.
    6. Andrea F. Presbitero & Gregory F. Udell & Alberto Zazzaro, 2014. "The Home Bias and the Credit Crunch: A Regional Perspective," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(s1), pages 53-85, February.
    7. Jushan Bai & Pierre Perron, 1998. "Estimating and Testing Linear Models with Multiple Structural Changes," Econometrica, Econometric Society, vol. 66(1), pages 47-78, January.
    8. Mitchell A. Petersen & Raghuram G. Rajan, 1995. "The Effect of Credit Market Competition on Lending Relationships," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 407-443.
    9. Enrica Detragiache & Thierry Tressel & Poonam Gupta, 2008. "Foreign Banks in Poor Countries: Theory and Evidence," Journal of Finance, American Finance Association, vol. 63(5), pages 2123-2160, October.
    10. Philip E. Strahan, 2003. "The real effects of U.S. banking deregulation," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 111-128.
    11. Dietsch, Michel, 2003. "Financing small businesses in France," EIB Papers 9/2003, European Investment Bank, Economics Department.
    12. Rajan, Raghuram G, 1992. " Insiders and Outsiders: The Choice between Informed and Arm's-Length Debt," Journal of Finance, American Finance Association, vol. 47(4), pages 1367-1400, September.
    13. Joe Peek & Eric S. Rosengren, 2000. "Implications of the globalization of the banking sector: the Latin American experience," New England Economic Review, Federal Reserve Bank of Boston, issue Sep, pages 45-62.
    14. Robert DeYoung & W. Frame & Dennis Glennon & Peter Nigro, 2011. "The Information Revolution and Small Business Lending: The Missing Evidence," Journal of Financial Services Research, Springer;Western Finance Association, vol. 39(1), pages 19-33, April.
    15. Jushan Bai & Pierre Perron, 2003. "Computation and analysis of multiple structural change models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(1), pages 1-22.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hugh Goldsmith, 2014. "The Long-Run Evolution of Infrastructure Services," CESifo Working Paper Series 5073, CESifo Group Munich.
    2. Clifton, Judith & Díaz-Fuentes, Daniel & Revuelta, Julio, 2014. "Financing utilities: How the role of the European Investment Bank shifted from regional development to making markets," Utilities Policy, Elsevier, vol. 29(C), pages 63-71.
    3. Alexandre Macchione Saes & Norma Lanciotti, 2014. "Foreign Electricity Companies In Argentina & Brazil: The Case Of American & Foreign Power (1926-1965)," Anais do XLI Encontro Nacional de Economia [Proceedings of the 41th Brazilian Economics Meeting] 029, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    4. Heino, Ossi & Anttiroiko, Ari-Veikko, 2014. "Enabling and Integrative Infrastructure Policy: The Role of Inverse Infrastructures in Local Infrastructure Provision with Special Reference to Finnish Water Cooperatives," MPRA Paper 60276, University Library of Munich, Germany, revised 28 Nov 2014.
    5. Norma Lanciotti & Alexandre Macchione Saes, 2013. "Companhias estrangeiras de eletricidade na Argentina e no Brasil: o caso da American & Foreign Power (1926-1965)," Working Papers, Department of Economics 2013_14, University of São Paulo (FEA-USP), revised 21 Nov 2013.
    6. Judith CLIFTON & Daniel DÍAZ-FUENTES & JULIO REVUELTA, 2013. "Explaining Infrastructure Investment Decisions at the European Investment Bank 1958-2004," Departmental Working Papers 2013-06, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    7. Ryo Izawa, 2017. "Under Political Uncertainties:Organisational Changes in the Imperial Continental Gas Association, 1824?1987," Discussion Papers CRR Discussion Paper Series A: General 24 Classification-, Shiga University, Faculty of Economics,Center for Risk Research.
    8. Alexandre Macchione Saes & Felipe Pereira Loureiro, 2012. "From Foreign to State Investment in the Brazilian Electric Power Sector: the Expropriation of the American Foreign and Power in Brazil (1959-1965)," Working Papers, Department of Economics 2012_08, University of São Paulo (FEA-USP).
    9. Kennedy, W & Delargy, R, 2011. "Shorting the Future: Capital Markets and the Launch of the British Electrical Industry, 1880-1892," Economics Discussion Papers 8947, University of Essex, Department of Economics.
    10. Foreman-Peck, James & Hannah, Leslie, 2011. "Extreme Divorce: the Managerial Revolution in UK Companies before 1914," Cardiff Economics Working Papers E2011/21, Cardiff University, Cardiff Business School, Economics Section.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:recosp:reco_581_0173. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire). General contact details of provider: http://www.cairn.info/revue-economique.htm .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.