The origins of the Bilbao Stock Exchange, 1891-1936

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dc.contributor.author Houpt, Stefan
dc.contributor.author Rojo Cagigal, Juan Carlos
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Historia Económica e Instituciones
dc.contributor.editor Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales
dc.date.accessioned 2010-04-22T11:40:43Z
dc.date.available 2010-04-22T11:40:43Z
dc.date.issued 2010-04
dc.identifier.uri http://hdl.handle.net/10016/7762
dc.description.abstract This paper presents first results of our more recent research on the Bilbao stock exchange from its foundation in 1890 up to the Spanish civil war. We examine the stock market’s origins and follow its evolution over the first half century of existence. To this end we introduce some of the stock exchange indexes we have calculated for Bilbao and put them into comparative perspective with the existing series on general economic and industrial activity and the indexes for other Spanish exchanges for the period considered. Finally, we contrast the degree of market integration associated to the existing Spanish exchange indexes. We find strong support for considering the Bilbao Stock Exchange index an industrial index and little evidence of capital market integration between the principal Spanish exchanges before the 1920s.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.language.iso eng
dc.relation.ispartofseries Working papers in Economic History
dc.relation.ispartofseries 10-05
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Bilbao
dc.subject.other Stock exchange
dc.subject.other Origins
dc.subject.other Integration
dc.subject.other Capital markets
dc.subject.other Spain
dc.title The origins of the Bilbao Stock Exchange, 1891-1936
dc.type workingPaper
dc.subject.jel N23
dc.subject.jel N24
dc.subject.jel E44
dc.subject.jel F36
dc.subject.eciencia Economía
dc.subject.eciencia Historia
dc.rights.accessRights openAccess
dc.identifier.repec wp10-05
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