Free capital movements played an important part in the economic integration and globalization of the nineteenth century. By the end of that century, capital flows were on a remarkable scale. The modern use of capital controls dates back to the 1930s. In this paper, the author analyzes historical...

Free capital movements played an important part in the economic integration and globalisation of the nineteenth century. By the end of the century capital flows were on a remarkable scale.The modern use of capital controls dates back to the 1930s. Professor Capie analyses historical experience...

The sources of finance for industrial development include (i) banks, (ii) securities markets, (iii) internal finance, (iv) alternative sources of finance such as angel finance, trade credit, families, and friends, and (v) governments. All four countries had sophisticated financial systems and...