Financing Joint-Stock Companies in the Colonial Era

Kathryn C. Lavelle

in The Politics of Equity Finance in Emerging Markets

Published in print November 2004 | ISBN: 9780195174090
Published online April 2005 | e-ISBN: 9780199835287 | DOI:
 Financing Joint-Stock Companies in the Colonial Era

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This chapter explores the origins of global equity markets that in fact have deep historical roots. Stocks were created to finance trade and expansion overseas as part of the European imperial project, yet prior to the imposition of direct rule. Later, equity finance in the industrial era brought together large amounts of capital to finance industrial projects overseas such as railroads, electric projects and water projects. The structure of global equity markets mirrored the structure of the markets within the colonial metropole; hence the chapter emphasizes the role ofand linkages with British, French, and Dutch colonial rule.

Keywords: equity markets; railroads; British colonialism; French colonialism; Dutch colonialism

Chapter.  8734 words. 

Subjects: Economic Development and Growth

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