Skip to Main content Skip to Navigation
New interface
Book sections

An ‘Atypical’ Case? The First Emergence of Brussels as an International Financial Centre, 1830-1860

Abstract : Economic historians often take for granted the idea that financial centres have followed one standard bottom-up development process, gradually evolving from commercial hubs to banking places. This chapter suggests that such an interpretation is rather simplistic. The analysis is focused on a remarkable counterexample: the sudden emergence of Brussels as an international financial centre in the mid-19th century. The case study is articulated into five parts, each one looking at a different aspect of the growth of the new centre (capital resources, business elites, regulation, the domestic money market, and the foreign exchange market). The conclusion is that the top-down process observed in the Brussels experience sheds light on the fact that semi-institutional actors (such as central banks, or commercial banks connected to the political power) can successfully enact specific policies aimed at enhancing local financial development.
Complete list of metadata

Cited literature [2 references]  Display  Hide  Download
Contributor : Stefano Ugolini Connect in order to contact the contributor
Submitted on : Tuesday, March 29, 2016 - 11:02:16 AM
Last modification on : Monday, October 4, 2021 - 10:43:40 AM


Ugolini (OUP 2011) for HAL Dep...
Files produced by the author(s)




Stefano Ugolini. An ‘Atypical’ Case? The First Emergence of Brussels as an International Financial Centre, 1830-1860. Laure Quennouëlle-Corre, Youssef Cassis Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries, Oxford University Press, pp.47-70, 2011, 9780199603503. ⟨10.1093/acprof:oso/9780199603503.003.0003⟩. ⟨hal-01294365⟩



Record views


Files downloads