Amongst the serried ranks of capitalists who drove European industrialisation in the nineteenth century, the Rothschilds were amongst the most dynamic and the most successful. Establishing businesses in Germany, Britain, France, Austria, and Italy the family soon became leading financiers, bankrolling a host of private and government businesses ventures. In so doing they played a major role in fuelling economic and industrial development across Europe, providing capital for major projects, particularly in the mining and railway sectors. Nowhere was this more apparent than in Spain, where for more than a century the House of Rothschild was one of the primary motors of Spanish economic development. Yet, despite the undoubted importance of the Rothschild's role, questions still remain regarding the actual impact of these financial activities and the effect they had on financial sectors, companies and Spanish markets. It is to such questions that this book turns its attention, utilising a host of archive sources in Britain, France and Spain to fully analyse the investments and financial activities carried out by the Rothschild House in Spain during the nineteenth and early twentieth centuries. In so doing the book tackles a variety of interrelated issues: Firstly, fixing the period when the main capital entries sprung from the initiatives taken by the Rothschild family, how consequential they really were, and the sectors they affected. Secondly, quantifying the importance of these investments and financial activities and the weight they had on financial sectors, companies and Spanish markets, as well as in foreign investment in each period. Thirdly, outlining the steps followed and means used by the Rothschild House in order to achieve the success in each of their businesses. Finally, analysing the consequences of this phenomenon in the actual growth of Spanish contemporary economy, both in a general and in a partial scale. By exploring these crucial questions, not only do we learn much more about the working of one of the leading financial institutions and the development of the Spanish economy, but a greater understanding of the broader impact of international finance and the flow of capital in the nineteenth century is achieved.
A bright spring day was fading into evening. High overhead in the clear heavens small rosy clouds seemed hardly to move across the sky but to be sinking into its depths of blue. In a handsome house in one of the outlying streets of the government town of O-- (it was in the year 1842) two women were sitting at an open window; one was about fifty, the other an old lady of seventy.
This book analyses the financial and rural economic reform of China. Since China started the "revolution" of the rural economy in 1978 a series of reforms has been implemented in the area of rural finance focusing on institutional changes. Looking back on these "historical changes", we can find that there is still a long way to go. China's Central Government has put forward a new concept in the rural financial system. In this book, with cases from Fengyang County and Anhui Province, the birthplace of Chinese rural reform, the author tries to study how to set up a modern rural financial system under the framework of incentive compatible mechanism theory, which was advanced by Nobel prize winners L. Hurwicz, Myeson and Maskin. This book summarizes the reform of China's rural economics and the function of financial cooperation within this policy. Few scholars have studied this subject thoroughly. As rural financial cooperation becomes the hot spot of China's economic and finance reform, this book is both useful and unique. This book contains nine chapters. Chapter 1 is an introduction in which the central issue has been put forward and a survey has been made on the literature of rural finance in China and abroad. It has outlined the framework and contents and introduced the research methodology and possible innovations. And it has also proposed the direction and major issues for further research. Chapter 2 illustrates the main theories on which this research is based, including peasant economy theory and the incentive compatibility theory. Chapter 3 analyses rural households' financial needs under the Household Contract Responsibility System and investigates rural households' economic behaviors, saving behaviors and lending behaviors, as well as their demand constraint. By analyzing the cause and goal of the exogenous financial institutional arrangements, and also the performance of its institutional supply, chapter 4 reveals the incentive incompatibility of rural exogenous financial institutions. Chapter 5 looks at the evolution of the rural endogenous financial institution and reveals the causes of its repression in the state's preference of financial institution from a historical perspective. Based on the incentive compatible mechanism, chapter 6 puts forward two models of rural household cooperative financial institution, namely, peasant credit cooperative and federation of rural credit cooperatives. Based on analyzing the credit basis of rural household cooperative financial institution (village culture) and its compatibility with the family contract system, chapter 7 shows the effectiveness of the institutional arrangements of rural household cooperative finance with the game analysis of rural households in relation with the exogenous and endogenous financial institutions and also from a comparative analysis of transaction costs and competitiveness. Chapter 8 tries to apply the model of institutions into practice. Through pilot experiment, it investigates the setting up and operation of peasant credit cooperatives and the Federation of Peasant Credit Cooperative in Fengyang County of Anhui Province, the birthplace of China's rural economic reform. With a comparative analysis of the performance of rural credit unions and village-township banks, it proves the effectiveness of the institutional arrangements of rural household cooperative finance. Chapter 9 is based on theoretical research and case studies, and draws a conclusion, and proposes corresponding policy-orientations.
Business, Government, and EU Accession is a detailed study of how EU accession impacts the relationship between business and government in the acceding country. Iankova identifies three major mechanisms by which the EU has affected business-government interactions: first, the legal conditionalities and harmonization efforts for EU entry; second, the pre-accession and anticipated postaccession financial assistance with its specific priorities and requirements; and third, the capacity building and learning that arises from efforts to adapt to the EU conditionalities of membership. Through addressing the question of EU influence on in-country institutional relationships, Iankova is able to highlight patterns of Europeanization that develop in those relationships a result of the adaptational pressures of EU accession, and to trace the effectiveness of these adaptive relationship in facilitating the preparedness of an EU-acceding country for EU entry Using Bulgaria as a case study, she examines the mechanisms of these interactions and interrogates the effectiveness of existing models in facilitating national goals of EU accession, revealing difficulties with and resistances to applying an EU-designed model of institutional change in postcommunist regions.
This is an anonymously authored work that tells 19th century women how to be model housewives by offering them advice on how to prepare popular meals.