The Roman Stock Exchange between the 19th and 20th Centuries

A History of the Italian Stock Market

verfasst von: Prof. Donatella Strangio

Verlag: Springer International Publishing

Buchreihe : Palgrave Studies in the History of Finance

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

This book explores the Italian stock exchange through its construction and consolidation while examining and criticizing the birth of the capital city. Through the evolution of the stock exchange, the transformation of Rome is examined from the capital of a pre-unification state to the papal state, exploring its social, political, administrative and financial fabric. The book examines that path to becoming the capital of Italy, offering a unique volume for researchers, academics, and students of financial history and financial markets.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Rome and the Papal State: Old Customs and the New Kingdom of Italy

Abstract

What was the political, economic and financial situation of Rome, the capital of the Papal State, before the Italian Unification? A capital and a state in the heart of Italy, a crossroads of political powers and military armies and, for a long time, a needle in the balance of the political equilibrium of Europe. The Italian political framework of this historical period was becoming clear enough according to an antagonism that saw the Sardinian Kingdom as the only surviving constitutional, parliamentary and liberal kingdom, in the middle of a peninsula dominated by the Austrian empire. The Papal State entered this constellation of Vienna’s satellites without demonstrating any political originality. In fact, more than these satellites, it projected an image of anachronism and substantial weakness, even financial.

Donatella Strangio

Chapter 2. Finance and Banking

Abstract

In the various parts of pre-unification Italy the diffusion of institutions such as discount and issue banks and savings banks was widespread, which is configured as one of the aspects that offer the measure of the financial modernization process underway in the various central decades of the nineteenth century.

Donatella Strangio

Chapter 3. Structural Elements of the Rome Stock Exchange: Regulations, Price Lists and Intermediaries

Abstract

With the industrial revolution, the need emerged to have bodies capable of collecting from savers the large financial resources necessary for the long-term investments of public and private companies, which multiplied in that period. However, already in the Middle Age, merchants would gather in the squares or under the loggias of the civic palace, where they installed a counter on which they placed the bag containing the coin, the exchange letters and the register on which they recorded the operations they performed.

Donatella Strangio

Chapter 4. The Rome Stock Exchange and the Evolution of the Roman Financial Market (1821–1870)

Abstract

How was the Rome Stock Exchange organized and developed “in the long nineteenth century”? Who were the underwriters? What were the interests and the real value of the securities? What weight did the “currency crisis” have and what was the size of the Rome stock exchange compared to other Italian stock exchanges?

Donatella Strangio

Chapter 5. The Stock Exchange and the Roman Financial Market from the Annexation of Italy to the Great War (1870–1914)

Abstract

The globalization of the world economy did not necessarily go hand in hand with the abolition of trade barriers: the historical period 1870–1914 was characterized by the opening of the world following the revolution that occurred in transport and communications, by migratory waves, by the free movement of capital that accompanied the birth of the colonial empires and by the ability of the great powers of the time to extend their direct and indirect dominion over a large part of the world (Cassis 2008b).

Donatella Strangio

Chapter 6. The 1920s and the Great Depression

Abstract

The industrialization process that commenced in Italy in the early twentieth century had positive effects, especially on the list of the Rome Stock Exchange. Reflecting Italy’s economic progress, the list came to include the stocks of firms operating in the new sectors of chemicals, machinery, electricity and transportation.

Donatella Strangio

Backmatter

Titel: The Roman Stock Exchange between the 19th and 20th Centuries
verfasst von: Prof. Donatella Strangio
Verlag: Springer International Publishing
Electronic ISBN: 978-3-031-00359-2
Print ISBN: 978-3-031-00344-8
DOI: https://doi.org/10.1007/978-3-031-00359-2