Law and Finance in Britain c.1900

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In this article, using new estimates of the size of the UK's capital market, we examine financial development and investor protection laws in Britain c.1900 to test the influential law and finance hypothesis. Our evidence suggests that there was not a close correlation between financial development and investor protection laws c.1900 and that the size of the UK's share market is a puzzle given the paucity of statutory investor protection. To illustrate that Britain was not unique in its approach to investor protection in this era, we examine investor protection laws across legal families c.1900.
Original languageEnglish
Number of pages27
JournalFinancial History Review
Early online date22 Oct 2019
Publication statusEarly online date - 22 Oct 2019


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