Monetary Union, institutions and financial market integration: Italy, 1862-1905
Publication
, Journal Article
Toniolo, G; Conte, L; Vecchi, G
Published in: Explorations in Economic History
January 1, 2003
Years into the single currency, EMU financial markets are not fully integrated. We argue that the phenomenon can be better understood by looking at financial markets' behavior in the wake of Italy's monetary unification (1862). Variables such as the spread of the telegraph, trade volumes, and the diffusion of the 'single currency' fail to explain why it took 25 years for prices across regional stock exchanges to converge. A single Italian financial market appeared only when the State prevailed upon local vested interests by enforcing nation-wide financial market legislation. © 2003 Elsevier Inc. All rights reserved.
Duke Scholars
Published In
Explorations in Economic History
DOI
ISSN
0014-4983
Publication Date
January 1, 2003
Volume
40
Issue
4
Start / End Page
443 / 461
Related Subject Headings
- History of Social Sciences
- 2202 History and Philosophy of Specific Fields
- 1403 Econometrics
- 1402 Applied Economics
Citation
APA
Chicago
ICMJE
MLA
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Toniolo, G., Conte, L., & Vecchi, G. (2003). Monetary Union, institutions and financial market integration: Italy, 1862-1905. Explorations in Economic History, 40(4), 443–461. https://doi.org/10.1016/j.eeh.2003.08.001
Toniolo, G., L. Conte, and G. Vecchi. “Monetary Union, institutions and financial market integration: Italy, 1862-1905.” Explorations in Economic History 40, no. 4 (January 1, 2003): 443–61. https://doi.org/10.1016/j.eeh.2003.08.001.
Toniolo G, Conte L, Vecchi G. Monetary Union, institutions and financial market integration: Italy, 1862-1905. Explorations in Economic History. 2003 Jan 1;40(4):443–61.
Toniolo, G., et al. “Monetary Union, institutions and financial market integration: Italy, 1862-1905.” Explorations in Economic History, vol. 40, no. 4, Jan. 2003, pp. 443–61. Scopus, doi:10.1016/j.eeh.2003.08.001.
Toniolo G, Conte L, Vecchi G. Monetary Union, institutions and financial market integration: Italy, 1862-1905. Explorations in Economic History. 2003 Jan 1;40(4):443–461.
Published In
Explorations in Economic History
DOI
ISSN
0014-4983
Publication Date
January 1, 2003
Volume
40
Issue
4
Start / End Page
443 / 461
Related Subject Headings
- History of Social Sciences
- 2202 History and Philosophy of Specific Fields
- 1403 Econometrics
- 1402 Applied Economics