Financial History Review最新文献_第6页

FHR volume 28 issue 2 Cover and Back matter FHR第28卷第2期封面和封底

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Financial History Review Pub Date : 2021-08-01 DOI: 10.1017/s0968565021000147

引用次数: 0

International banking and financial fragility: the role of regulation in Brazil and Mexico, 1967–1982 国际银行业和金融脆弱性：巴西和墨西哥监管的作用，1967–1982

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Financial History Review Pub Date : 2021-07-15 DOI: 10.1017/S0968565021000044

S. Álvarez

{"title":"International banking and financial fragility: the role of regulation in Brazil and Mexico, 1967–1982","authors":"S. Álvarez","doi":"10.1017/S0968565021000044","DOIUrl":"https://doi.org/10.1017/S0968565021000044","url":null,"abstract":"The shortcomings and potential dangers of international financial flows for the health and stability of domestic banking systems in developing countries have been copiously discussed over the last decades. While the importance of capital controls and regulation as determining factors has been widely emphasised, the extent to which these policies work in episodes of financial crisis is still a matter of debate. This article examines the relationship between supervisory frameworks and banking fragility in Mexico and Brazil in the wake of the international debt crisis of 1982. It shows that the model of international banking intermediation that evolved out of the stringent capital mobility system in Brazil was considerably less vulnerable to crisis than in Mexico, which had a more lightly regulated regime. These findings provide insights into historical debates about the implications of prudential regulation and capital controls for the development and expansion of foreign finance, and whether the risks underlying international banking are necessarily inherent in the process of financial globalisation.","PeriodicalId":44063,"journal":{"name":"Financial History Review","volume":"28 1","pages":"175 - 204"},"PeriodicalIF":0.7,"publicationDate":"2021-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0968565021000044","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46223844","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The French bonds: the little-known bidding war for France's holdings in American debt, 1786–1790 法国债券：1786-1790年法国持有的美国债券的鲜为人知的竞购战

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Financial History Review Pub Date : 2021-07-15 DOI: 10.1017/s096856502100010x

P. T. Veru

引用次数: 1

The historical dynamics of US financial exchanges 美国金融交流的历史动态

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Financial History Review Pub Date : 2021-07-14 DOI: 10.1017/S0968565021000081

B. Jorgensen, Kenneth A. Kavajecz, S. Swisher

引用次数: 0

Friends or foes? Brazil, the IMF and the World Bank, 1961–1967 朋友还是敌人？巴西、国际货币基金组织和世界银行，1961-1967年

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Financial History Review Pub Date : 2021-06-21 DOI: 10.1017/S096856502100007X

C. Altamura, Claudia Kedar

{"title":"Friends or foes? Brazil, the IMF and the World Bank, 1961–1967","authors":"C. Altamura, Claudia Kedar","doi":"10.1017/S096856502100007X","DOIUrl":"https://doi.org/10.1017/S096856502100007X","url":null,"abstract":"Between June 1959 and March 1964, the democratic governments of Brazilian presidents Juscelino Kubitschek (January 1956 – January 1961), Janio Quadros (January–August 1961), Ranieri Mazzilli (August–September 1961) and João ‘Jango’ Goulart (September 1961 – April 1964) received no support from the World Bank (WB), which refused to fund even a single new project during this period. During this same period, and, more specifically, between July 1958 and January 1965, the International Monetary Fund (IMF), the WB's twin institution, granted financial assistance to Brazil only twice: a controversial and highly conditional Stand-By Arrangement (SBA) signed in May 1961; and a non-conditional and automatically approved Compensatory Financial Facility (CFF), granted in May 1963 to compensate Brazil for the decrease in coffee prices on the international market. This attitude towards Brazil changed significantly following the military coup of March 1964. Money flowed into the country and by 1970 Brazil had become the largest receiver of WB funds and a chronic borrower from the IMF, signing two SBAs in 1965, and one per year between 1966 and 1972. We use recently disclosed material from the International Monetary Fund and the World Bank archives to analyse the relationship of these two institutions with Brazil and to foster the debate on their political neutrality, arguing that the difference in the IMF's and especially the WB's relations with the military regime reflected, more than anything else, the existence of an ideological affinity between the parties with regards to the ‘right’ economic policy.","PeriodicalId":44063,"journal":{"name":"Financial History Review","volume":"28 1","pages":"205 - 236"},"PeriodicalIF":0.7,"publicationDate":"2021-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S096856502100007X","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43740223","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The foreign exchange market in Barcelona at the beginning of the fifteenth century 15世纪初巴塞罗那的外汇市场

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Financial History Review Pub Date : 2021-04-01 DOI: 10.1017/S0968565021000032

Angela Orlandi, Giacomo Toscano

引用次数: 1

Origins of arbitrage 套利的起源

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Financial History Review Pub Date : 2021-04-01 DOI: 10.1017/S0968565021000020

Geoffrey Poitras

引用次数: 1

FHR volume 28 issue 1 Cover and Back matter FHR第28卷第1期封面和封底

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Financial History Review Pub Date : 2021-04-01 DOI: 10.1017/s0968565021000068

引用次数: 0

FHR volume 28 issue 1 Cover and Front matter FHR第28卷第1期封面和封面

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Financial History Review Pub Date : 2021-04-01 DOI: 10.1017/s0968565021000056

引用次数: 0

Keynes's trading on Wall Street: did he follow the same behaviour when investing for himself and for King's? 凯恩斯在华尔街的交易：他在为自己和国王投资时也遵循同样的行为吗？

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Financial History Review Pub Date : 2021-03-03 DOI: 10.1017/S0968565020000256

Eleonora Sanfilippo

{"title":"Keynes's trading on Wall Street: did he follow the same behaviour when investing for himself and for King's?","authors":"Eleonora Sanfilippo","doi":"10.1017/S0968565020000256","DOIUrl":"https://doi.org/10.1017/S0968565020000256","url":null,"abstract":"In the last few years Keynes's investment activity, both as an individual trader and as a manager of institutions’ portfolios, has attracted attention in the specialised literature. Recently his investments on Wall Street, in particular – both on his own account (Cristiano, Marcuzzo and Sanfilippo 2018) and on behalf of King's College, Cambridge (Chambers and Kabiri 2016) – have been analysed, and the evident connection with his theoretical analysis of the functioning of the financial markets contained in chapter 12 of The General Theory has been duly stressed. This article aims to contribute to a more comprehensive understanding of Keynes's trading behaviour on Wall Street by providing a detailed comparison of his investment choices when he traded for himself and for King's. There are similarities, as might be expected, but also significant differences, well worth investigating. As far as the differences are concerned, one of the most striking is to be seen, for instance, in his attitude when, after a period of bull market in 1936, he had to face the spring 1937 burst of the speculative bubble and subsequent recession. Analysis of his behaviour in this specific case reveals that the event took him by surprise but his reaction differed with regard to his personal investments and the King's investments. The prevalence of a ‘buy and hold’ strategy, which, according to Chambers and Kabiri's reconstruction (2016), marked Keynes's behaviour in general (and also in this particular case) when he invested on behalf of King's, was not always his typical choice when the investments were undertaken on his own account. A tentative explanation of this result, which is also grounded on some different features characterising the two portfolios and not sufficiently investigated in previous studies, is at last provided in the article.","PeriodicalId":44063,"journal":{"name":"Financial History Review","volume":"28 1","pages":"1 - 25"},"PeriodicalIF":0.7,"publicationDate":"2021-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0968565020000256","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44913460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3