2011 Fiscal Year Final Research Report

The Formation of Financial Centers in the Global Age from a Comparative-historical Viewpoint

Research Project

Project/Area Number	21530326
Research Category	Grant-in-Aid for Scientific Research (C)
Allocation Type	Single-year Grants
Section	一般
Research Field	Economic history
Research Institution	Tohoku University
Principal Investigator	SUZUKI Toshio 東北大学, 大学院・経済学研究科, 教授 (00139982)
Project Period (FY)	2009 – 2011
Keywords	国際銀行 / マーチャント・バンク / 英系海外銀行 / 投資銀行 / 国法銀行 / 国際金本位制 / 国際金融市場 / ユーロ・ダラー市場
Research Abstract	The aim of this study is, from a general viewpoint, to compare the formation of international financial centers in the global age of the world economy and to understand the process in which international capital markets enhanced their position to the world's largest financial center. We intend to pay much attention to the following international financial centers which once played a hegemonic role in the world economy, and to compare them each other :(1)London under the international gold standard prior to the First World War,(2)New York under the rebuilt gold standard during the interwar period, and(3)London as an off-shore market for euro-dollars following the Second World War. We also take into consideration the influence of' financial capitalism' to the macro economy, which appeared as the outcome of the enlargement of financial sector.

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