Publisher Description

London and Paris, the world's two leading financial centres in the nineteenth century, experienced differing fortunes during the twentieth century. While London remained an international financial centre, Paris' influence declined. Yet over the last twenty years deregulation, internationalization, and the advent of the single currency have reactivated their competition in ways reminiscent of their old rivalry before the First World War.Thisbook provides a long-term perspective on the development of each centre, with special attention devoted to the pre-1914 years and to the last decades of the twentieth century, in order to contrast thesetwo eras of globalization. The chapters include both archive-based and synthetic surveys and are written by the leading specialists of the field. This comparison between Europe's two leading capital cities will also provide new insights into two important subjects: the political economy of Britain and France in the twentieth century, and the history of international financial centres.As much as a comparison between London and Paris as international financial centres, thisbook is an Anglo-French comparison; in other words, it considers, through the prism of finance, several aspects of the two countries' economic, business, social, and political histories. It includescontributions from leading banking, financial, and economic historians, and will be of interest to academics, researchers, and students of Financial and Economic History, and the role of London and Paris in particular.

Author Biography

Youssef Cassis is Professor of Contemporary Economic History, University of Grenoble II, and Visiting Fellow at the London School of Economics and Political Science. He is author of Big Business: The European Experience in the 20th Century (OUP, 1997), and co-editor of European Banks and the American Challenge: Competition and Cooperation in International Banking Under Bretton Woods (OUP, 2002), with Stefano Battilossi. Eric Bussière isJean Monnet Professor of European Construction at the University of Paris IV-Sorbonne. He is the author of Horace Finaly, Banquier (Paris, Fayard, 1996), and editor of Georges Pompidou et la Mutation Economique de l'Occident(Paris, PUF, 2003).

Table of Contents

1: Youssef Cassis: Introduction: Comparative Perspectives on London and Paris as International Financial Centres, 1890-2000Part I: London and Paris in Long-Term Perspective, 1890-20002: Ranald Michie: A Financial Phoenix: The City of London in the Twentieth Century3: Alain Plessis: When Paris Dreamed of Competing with the City...Part II: 'Golden Age', 1890-19144: Niall Ferguson: The City of London and British Imperialism: New Light on an Old Question5: Marc Flandreau and François Gallice: Paris, London, and the International Money Market: Lessons from Paribas, 1885-19136: Youssef Cassis: London Banks and International Finance, 1890-19147: Samir Saul: New Issues, Syndicates, and the Paris Capital Market, 1890-1914Part III: From Global Reach to Regional Withdrawal, 1914-588: Philip L. Cottrell: Established Connections and New Opportunities: London as a Financial Centre, 1914-589: Hubert Bonin: The Challenged Competitiveness of the Paris Capital Market, 1914-58Part IV: The Road to Globalization, 1958-8010: Catherine Schenk: Crisis and Opportunity: The Policy Environment of International Banking in the City of London, 1958-8011: Olivier Feiertag: The International Opening up of the Paris Bourse: Debt-Economy Curbs and Market Dynamics12: Mae Baker and Michael Collins: London as an International Banking Centre, 1958-8013: Eric Bussière: French Banks and the Eurobonds Issue Market in the 1960sPart V: Internationalization and Globalization, 1980-200014: Richard Roberts: London as an International Financial Centre, 1980-2000: Global Powerhouse or Wimbledon EC2?15: André Straus: The Future of Paris as an International Centre from the Perspective of European Integration

Review

`This book has a truly exciting set of fifteen chapters... This is a well-integrated volume that should be in the library of every economic historian who deals with international banking and finance in the late nineteenth and twentieth century. I read it with great absorption and delight.'Mira Wilkins, EH.NET

Long Description

London and Paris, the world's two leading financial centres in the nineteenth century, experienced differing fortunes during the twentieth century. While London remained an international financial centre, Paris' influence declined. Yet over the last twenty years deregulation, internationalization, and the advent of the single currency have reactivated their competition in ways reminiscent of their old rivalry before the First World War.This
book provides a long-term perspective on the development of each centre, with special attention devoted to the pre-1914 years and to the last decades of the twentieth century, in order to contrast these two eras of globalization. The chapters include both archive-based and synthetic surveys and are
written by the leading specialists of the field. This comparison between Europe's two leading capital cities will also provide new insights into two important subjects: the political economy of Britain and France in the twentieth century, and the history of international financial centres.As much as a comparison between London and Paris as international financial centres, this book is an Anglo-French comparison; in other words, it considers, through the prism of finance,
several aspects of the two countries' economic, business, social, and political histories. It includes contributions from leading banking, financial, and economic historians, and will be of interest to academics, researchers, and students of Financial and Economic History, and the role of London and
Paris in particular.

Review Text

`This book has a truly exciting set of fifteen chapters... This is a well-integrated volume that should be in the library of every economic historian who deals with international banking and finance in the late nineteenth and twentieth century. I read it with great absorption and delight.'
Mira Wilkins, EH.NET

Review Quote

'This book has a truly exciting set of fifteen chapters... This is a well-integrated volume that should be in the library of every economic historian who deals with international banking and finance in the late nineteenth and twentieth century. I read it with great absorption and delight.'Mira Wilkins, EH.NET

Feature

Comparative analysis of the respective roles of London and Paris as international finance centres in the twentieth century
Contrasts the different fortunes of both centres
Examines how deregulation, internationalization, and the advent of the single currency over the last twenty years has reactivated their rivalry
Includes contributions from leading banking, financial, and economic historians including Philip Cottrell, Niall Ferguson, Marc Flandreau, Ranald Michie, and Richard Roberts

Description for Library

"This is a comparison between London and Paris as international financial centres since the late nineteenth century. The chapters include both archive-based and synthetic surveys. It also gives insights into: the political economy of Britain and France in the twentieth century, and the history of international financial centres"--Provided by publisher.

Details