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Did colonization change the distribution of prosperity within French-speaking West Africa? Using a new database on both pre-colonial and colonial contexts, this paper gives evidence that Europeans tended to settle in more prosperous pre-colonial areas and that the European settlement had a...
Persistent link: https://www.econbiz.de/10011073400
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homogenize it, reduce its cost and improve the operation of the primary and secondary markets of the debt. Finally, it favored …
Persistent link: https://www.econbiz.de/10010707325
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homogenize it, reduce its cost and improve the functioning of the primary and secondary markets of the debt. Finally, it favored …
Persistent link: https://www.econbiz.de/10010708572
The organization of securities markets has not benefited from the feigned attempts of reform presented by authorities … markets on which one operates. The Markets in Financial Instruments Directive of the European Union, effective since 2007 … for financial markets that led to liquidity fragmentation and the privatization of market information. Drawing from …
Persistent link: https://www.econbiz.de/10011073693
We point out that the two and half years of negotiation (1692-1694) between a group of investors and the English government, who led to the establishment of the Bank of England, aimed to guarantee the liquidity of a new public debt and not to establish a bank. We analyze the evolution of the...
Persistent link: https://www.econbiz.de/10011166377
L e capitalisme financier est entré dans une crise profonde en 2007. Cette crise, d’abord bancaire et localisée dans le marché du crédit immobilier américain, est rapidement devenue mondiale, financière et réelle. Elle a remis en cause la forte croissance dont bénéficiait...
Persistent link: https://www.econbiz.de/10011072946
Le présent article analyse l’efficience du marché des changes. L’article reconsidère la définition originelle de l’efficience au sens de Fama (1965) en mettant en lumière les différentes contradictions internes de cette définition. Partant de là, trois définitions de...
Persistent link: https://www.econbiz.de/10011074576
Dans la plupart des pays développés, les marchés financiers ont connu un essor rapide et important entre les années 1970 et 1990, après une longue période où ils ont occupé une place mineure dans le financement de l’économie. Cette phase n’est pas sans précédent, dans la mesure...
Persistent link: https://www.econbiz.de/10011162101