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Dividends of Development – Securities Markets in the History of U.S. Capitalism, 1866-1922 - Oxford Scholarship Online
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Dividends of Development: Securities Markets in the History of U.S. Capitalism, 1866-1922

Mary A. O’Sullivan

Abstract

This book, Dividends of Development: Securities Markets in the History of US Capitalism, 1866–1922, explains how securities markets became central to the institutional fabric of US capitalism. After the Civil War, these markets had a narrowly circumscribed relationship to the country’s real economy, being largely dominated by railroad securities. Moreover, their role in the US financial system was of limited significance given the relatively modest resources that financial institutions committed to investment in, and lending on, corporate securities. That situation was to undergo fundamental c ... More

Keywords: securities markets, financial system, corporations, United States, First World War

Bibliographic Information

Print publication date: 2016 Print ISBN-13: 9780199584444
Published to Oxford Scholarship Online: November 2016 DOI:10.1093/acprof:oso/9780199584444.001.0001

Authors

Affiliations are at time of print publication.

Mary A. O’Sullivan, author
Professor of Economic History, University of Geneva