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London and Paris as International Financial Centres in the Twentieth Century$
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Youssef Cassis and Eric Bussière

Print publication date: 2005

Print ISBN-13: 9780199269495

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199269495.001.0001

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The Challenged Competitiveness of the Paris Banking and Finance Markets, 1914–1958

The Challenged Competitiveness of the Paris Banking and Finance Markets, 1914–1958

Chapter:
(p.183) 9 The Challenged Competitiveness of the Paris Banking and Finance Markets, 1914–1958
Source:
London and Paris as International Financial Centres in the Twentieth Century
Author(s):

Hubert Bonin

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199269495.003.0009

This chapter focuses on two main themes: the resilience of Paris, and its ability to develope in new ways in the face of the reshaping of the banking and financial markets. French banks were shaken considerably by the First World War and lost most of their international importance. Given competition from Belgian, British, German, and even American banks, the fate of the Paris banking market seemed uncertain. The question is therefore: how did the Paris banking and financial markets manage to survive such dramatic events, paradoxically gaining benefits? It isn't easy to assess the competitiveness of Paris compared with its counterparts, especially London; given the organization of the Paris market, which fostered the spirit of overseas enterprise and the mastery of risk; and with the subtle balance between the state's concern with national standing and the business world's desires to secure market shares, profits, and power outside France.

Keywords:   Paris, financial markets, banking sector, competitiveness, First World War, Second World War

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