Chapter

The Evolution of Self- and State Regulation of the London Stock Exchange, 1688–1878

Edited by Larry Neal

in Law and Long-Term Economic Change

Published by Stanford University Press

Published in print June 2011 | ISBN: 9780804772730
Published online June 2013 | e-ISBN: 9780804777612 | DOI: https://dx.doi.org/10.11126/stanford/9780804772730.003.0014
The Evolution of Self- and State Regulation of the London Stock Exchange, 1688–1878

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This chapter examines the claim that the success of the London Stock Exchange was linked to the British common law system and the self-regulation of that institution. It shows the importance of the self-regulating London Stock Exchange as an institutional safeguard against opportunistic and dishonest trading practices by its members. However, this chapter argues that the relationship between formal regulation and informal regulation of the London Stock Exchange over time was much more complex than simply reflecting a common law society governed by central government.

Keywords: London Stock Exchange; British common law; informal regulation; self-regulation

Chapter.  10577 words. 

Subjects: Economic Development and Growth

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