Domestic and International Integration of the London Money Market, 1731–1789

Abstract

The purpose of this study is to provide a quantitatively-based description of the main trends in the domestic structure and international position of the London money market during the eighteenth century. Using monthly data for the years 1731 to 1789, the findings supported the general hypothesis of the existence of a trend toward increased association between the money markets during the course of the century, but at the same time indicated variation in the inter-market relationships between sub-periods.

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