2000
DOI: 10.3406/ecofi.2000.4721
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The role of Paris in international finance in the19th century

Abstract: In the XIXth century, Paris is a dominant international financial centre. In the second half of the XIXth century, many foreign projects get financing on the Paris market. This success can be explained by financial reasons. JEL Classification : N23

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“…Encouraged by a strong rentier social base, the French governments took measures to stimulate Paris as a major financial place with, as an evidence of state centrality, a tight control on the financial markets. In particular, it encouraged to invest in foreign securities with such a success that in 1911, foreign security purchases accounted for 38% of total French portfolio, from 25% in 1887 (Arbulu and Vaslin 2000). An appreciated measure was the passing of a law in the late 1880s exempting sovereign bonds from the introduced income tax and charging lower rates of stamp.…”
Section: The Case Of Francementioning
confidence: 99%
“…Encouraged by a strong rentier social base, the French governments took measures to stimulate Paris as a major financial place with, as an evidence of state centrality, a tight control on the financial markets. In particular, it encouraged to invest in foreign securities with such a success that in 1911, foreign security purchases accounted for 38% of total French portfolio, from 25% in 1887 (Arbulu and Vaslin 2000). An appreciated measure was the passing of a law in the late 1880s exempting sovereign bonds from the introduced income tax and charging lower rates of stamp.…”
Section: The Case Of Francementioning
confidence: 99%