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Instituciones de inversión colectiva en españa desde una perspectiva histórica

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  • Fernando Carnero Lorenzo

Abstract

The banking sector is the more important segment of Spanish financial system. Other financial institutions have had little signification, and they have also been controlled for banks. The Spanish financial literature has situated the born of investment trusts in the 1950 decade because of the limited Spanish stock market and the absence of a specific legislation for them. But, there were investment trusts before 1950, and Ahorro y Fortuna, an investment trust created in 1912 in Santa Cruz de Tenerife, was an example of them.

Suggested Citation

  • Fernando Carnero Lorenzo, 2003. "Instituciones de inversión colectiva en españa desde una perspectiva histórica," Documentos de Trabajo (DT-AEHE) 0301, Asociación Española de Historia Económica.
    • Handle: RePEc:ahe:dtaehe:0301
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    References listed on IDEAS

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    1. Lee, Charles M C & Shleifer, Andrei & Thaler, Richard H, 1991. "Investor Sentiment and the Closed-End Fund Puzzle," Journal of Finance, American Finance Association, vol. 46(1), pages 75-109, March.
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    More about this item

    Keywords

    Financial system; investment trust; mutual funds;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • Y - Miscellaneous Categories
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-

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