Unofficial London Stock Trading During the Stock Exchange Suspension of 1914

Matt Carey
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Matt Carey: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

No 29, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: The following study analyzes unofficial trading of stocks during the London Stock Exchange suspension of trading in 1914 at the start of World War I. Extensive data obtained from the London Financial Times uncovers stock prices from the unofficial market during the period from August 15, 1914 to January 4, 1915. This study intends to illustrate the relationship between global financial markets and the outbreak of one of the most devastating wars in history. The analysis shows how a recovery of prices in the unofficial market corresponded with worldwide events during the closure of the exchange. An accompanying spreadsheet workbook lists daily prices in the unofficial market.

Keywords: London Stock Exchange; World War I; crisis (search for similar items in EconPapers)
JEL-codes: G01 N24 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2015-03
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0029

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