Chapter

Shattered Dominance: The First World War, 1914–1918

Ranald C. Michie

in The London Stock Exchange

Published in print April 2001 | ISBN: 9780199242559
Published online November 2003 | e-ISBN: 9780191596643 | DOI: http://dx.doi.org/10.1093/0199242550.003.0005
 Shattered Dominance: The First World War, 1914–1918

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This chapter looks at the change from a dominant position of the London Stock Exchange before the First World War, to its severely diminished position after it. The Stock Exchange emerged from the war as a fundamentally different institution, as a result of internal changes in rules and regulations, changes forced upon it (including government intervention) and the different world within which it now operated; and there was no guarantee that the conditions that had allowed it to acquire such a central position would ever reappear. The chapter traces these developments in three sections, which discuss the outbreak of war, the effects of war, and money and capital (securities) markets.

Keywords: Britain; capital market; change; economic history; First World War; government intervention; history; institution; London Stock Exchange; money market; rules and regulations; securities market

Chapter.  13263 words. 

Subjects: Economic History

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