International Financial History

The course examines financial innovation and its consequences from the early modern period to present: it examines the evolution of trading practices, bills of exchange, government bonds, equities, banking activity, derivatives markets, securitization. How do these evolve in particular state or national settings, how are the practices regulated, how do they relate to broader processes of economic development and to state formation? What happens as financial instruments are traded across state boundaries, and how does an international financial order evolve? What are the effects of international capital mobility?