This paper explores the origins of Andorra's financial cluster. It shows that the free movement of currency, the protection of infant industry, and geographical concentration lie at the foundation of the cluster's competitive advantage. Drawing on a new set of data, the paper also provides for...

Current theories of financial regulation suggest expanding rules-based formal state intervention to promote international banking stability. Such policy solutions should then be global in scope. This article instead argues that principles-based informal co- and self-regulation through domestic...

What was Alfred D. Chandler's significance in the study of business history throughout the world? How did his views evolve? Why was his approach so influential? How did his thinking contribute to comparative business history and to the history of international business? This essay is designed to...

This issue brings together five articles on the modern petroleum industry. Two cover the growth of the industry in the early twentieth century: Michael Adamson's study of the development by independent oilman Ralph Lloyd of California's coastal oil region; and the study by Lisa Bud-Frierman,...

This paper examines the origins of investor protection under the common law by analysing the development of shareholder protection in Victorian Britain, the home of the common law. In this era, very little was codified, with corporate law simply suggesting a default template of rules....

This paper examines the origins of investor protection under the common law by analysing the development of shareholder protection in Victorian Britain, the home of the common law. In this era, very little was codified, with corporate law simply suggesting a default template of rules....

The pivotal role played by non-banking institutions in supporting the expansion of international trade after the Napoleonic Wars and before first globalization c. 1870 - 1913 has long been recognised. Merchant-bankers in particular played a crucial role by advancing monies to consignors of...

The pivotal role played by non-banking institutions in supporting the expansion of international trade after the Napoleonic Wars and before first globalization c. 1870-1913 has long been recognised. Merchant-bankers in particular played a crucial role by advancing monies to consignors of...

The joint stock company, centred on Oldham, is a central narrative in Douglas Farnie's seminal book, the English Cotton Industry and the World Market. Farnie was the first to highlight the idiosyncratic nature of these limited companies, including their highly democratic system of governance....

The appropriateness of patent systems has been largely discussed and has led to substantial theoretical debates and empirical analyses. One of the most significant arguments in favor of patents is that they enable knowledge disclosure, which would compensate their social cost. Through an...