The Financial Markets in the United Kingdom

Marshall E. Blume

Rodney L. White Center for Financial Research Working Papers from Wharton School Rodney L. White Center for Financial Research

Abstract: The vigor of an economy has frequently been linked to the level of new investment. Compared to most other developed countries, the level of new investment in the UK has been relatively low and the performance of the economy on various dimensions has also been relatively poor. One possible reason for such a low level of investment is that the financial markets are not working properly, and thereby, the amount of capital available for new investment is curtailed. The purpose of this chapter is to examine the financial markets in the UK with particular emphasis on the provisions of investment capital.

The chapter begins with a comparison of the investment levels among different developed countries and then moves on to an overall description of the roles played by different participants in the market in the provision and use of investment funds. Following this more general material will be a detailed analysis of the participants in the financial markets with comparisons to the U.S. where appropriate. Particular attention will be paid to the venture capital markets and to the growing institutionalization of the equity markets. The chapter will conclude with a brief summary of the major conclusions.

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Persistent link: https://EconPapers.repec.org/RePEc:fth:pennfi:07-79

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