Law and finance in Britain c.1900

Christopher Coyle, Aldo Musacchio () and John D. Turner

No 2019-05, QUCEH Working Paper Series from Queen's University Belfast, Queen's University Centre for Economic History

Abstract: In this paper, using new estimates of the size of the UK's capital market, we examine financial development and investor protection laws in Britain c.1900 to test the influential law and finance hypothesis. Our evidence suggests that there was not a close correlation between financial development and investor protection laws c.1900 and that the size of the UK's share market is a puzzle given the paucity of statutory investor protection. To illustrate that Britain was not unique in its approach to investor protection in this era, we examine investor protection laws across legal families c.1900.

Keywords: Common Law; Finance; Investor Protection; Law; UK (search for similar items in EconPapers)
JEL-codes: G3 G33 K22 N20 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-cfn, nep-fdg, nep-his and nep-law
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Journal Article: Law and finance in Britain c.1900 (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:qucehw:201905

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