Includes bibliographical references (pages 174-182) and index.
International capital flows in the previous era of globalization : an overview and outline of the book and its objectives -- The London market for sovereign debt, 1870-1913 versus today's markets -- The determinants of the cost of capital : case study evidence -- News and sharp changes in bond spreads -- Spreads, news, and macroeconomics : a multivariate regression analysis -- Co-movement of spreads : fundamentals or investor behavior? -- Sovereign defaults and the corporation of foreign bondholders -- A few lessons for the future.
The frequency and virulence of recent financial crises have led to calls for reform of the current international financial architecture. In order to learn more about today's international financial environment, this text looks to an earlier era of financial globalization between 1870 and 1913.
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