course
HI109 | Spring | 6 ECTS

The Streets of Finance: Markets and Regulation

How did the major markets for financial assets emerge, develop and internationalize? Why are these markets frequently geographically concentrated? How relevant were differences in infrastructure, institutions, and regulation for their success? What explains the ebbs and flows of financial regulation? Financial markets have been key actors of globalization and have had a strong influence on international relations. This course focuses on the interaction between the functions and actors in financial markets and their outcome, as mediated by the regulatory framework. In pursuing the history of financial markets, we will concentrate on the several 'financial revolutions' from the emergence of organized stock exchanges in the 17th century to Dodd-Frank and other drives toward stricter regulation of financial transactions since the 2008 crisis.