Law and Finance in Britain c.1900

Christopher Coyle; Aldo Musacchio; John Turner

doi:10.1017/S0968565019000179

Law and Finance in Britain c.1900

Christopher Coyle, Aldo Musacchio, John Turner

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Abstract

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 language	English
Number of pages	27
Journal	Financial History Review
Early online date	22 Oct 2019
DOIs	https://doi.org/10.1017/S0968565019000179
Publication status	Early online date - 22 Oct 2019

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Law and Finance in Britain c.1900
Copyright 2019 Cambridge University Press. This work is made available online in accordance with the publisher’s policies. Please refer to any applicable terms of use of the publisher.
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AB - 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.

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Law and Finance in Britain c.1900

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