Le marché financier et l'économie, 1870-1900

Pierre Hautcoeur

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Abstract: This paper is the eleventh chapter of a book forthcoming in January 2007 under the title Histoire du marché financier français au 19 ème siècle (a history of the French capital market in the 19th century). He discusses the macroeconomics of the great depression of the late 19th century from the point of view of the capital markets. He discusses the thesis of a crowding out of private investment by the government and suggests the organization of financial markets had more responsibility in the misallocation of funds to the most productive uses.

Keywords: history; financial systems; capital markets; France; 19th century; great depression; crowding-out; capital markets imperfections; microstructures; systèmes financiers; bourse; grande dépression; longue stagnation; imperfections des marchés; microstructures des marchés financiers (search for similar items in EconPapers)
Date: 2006-12
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Working Paper: Le marché financier et l'économie, 1870-1900 (2006)
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