Trading forward: The Paris Bourse in the nineteenth century
Paul Lagneau-Ymonet
(1, 2)
,
Angelo Riva
(3, 4, 5)
Paul Lagneau-Ymonet
- Fonction : Auteur
- PersonId : 1245341
- IdHAL : paul-lagneau-ymonet
Angelo Riva
- Fonction : Auteur
- PersonId : 1158768
- ORCID : 0000-0003-3301-2297
- IdRef : 109151046
Résumé
Contrary to what law and finance theory would predict, the Paris Bourse was highly liquid at the turn of the twentieth century: the traded volumes amounted to four times the French GDP. This magnitude was mainly due to forward trading. The Bourse had developed as a forward market, despite a ban on forward transactions. The guild-like body running the Bourse played a key role in legitimizing and legalizing these operations, previously equated with gambling. The 1885 legalizing act initiated a new field of law (‘securities law’) and paved the way for the heyday of the Paris Bourse.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Trading forward: The Paris Bourse in the nineteenth century
|
Résumé |
en
Contrary to what law and finance theory would predict, the Paris Bourse was highly liquid at the turn of the twentieth century: the traded volumes amounted to four times the French GDP. This magnitude was mainly due to forward trading. The Bourse had developed as a forward market, despite a ban on forward transactions. The guild-like body running the Bourse played a key role in legitimizing and legalizing these operations, previously equated with gambling. The 1885 legalizing act initiated a new field of law (‘securities law’) and paved the way for the heyday of the Paris Bourse.
|
Auteur(s) |
Paul Lagneau-Ymonet
1, 2
, Angelo Riva
3, 4, 5
1
IRISSO -
Institut de Recherche Interdisciplinaire en Sciences Sociales
( 184082 )
- Place du Maréchal de Lattre de Tassigny 75775 PARIS Cedex 16
- France
2
PSL -
Université Paris Sciences et Lettres
( 564132 )
- 60 rue Mazarine 75006 Paris
- France
3
IREBS -
Institut de recherche de l'European Business School
( 56256 )
- 37/39, boulevard Murat 75016 Paris
- France
4
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
5
PJSE -
Paris Jourdan Sciences Economiques
( 1171428 )
- 48 boulevard Jourdan 75014 Paris
- France
|
Numéro |
2
|
Page/Identifiant |
257-280
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2018
|
Volume |
60
|
Domaine(s) |
|
Projet(s) ANR |
|
Mots-clés |
en
Financial markets, legal origin, nineteenth century, traded volumes, France
|
DOI | 10.1080/00076791.2017.1316487 |
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