Stock Markets and States

  • Kathryn C. Lavelle
Chapter
Part of the International Political Economy Series book series (IPES)

Abstract

A recent opinion piece in the Economist arguing the merits of turning stock exchanges into public companies noted that as the exchanges compete with each other and with electronic rivals they have become, in essence, little more than rival platforms for trading securities. The Economist argued that ‘the old notion of a national stock exchange as a natural monopoly-cum-utility has become not just antiquated but actively harmful.’1 The broader phenomenon that the piece refers to, that is, the cross-listings of equities across exchanges and cross-border trading of equities, would seem to be yet another dimension to the rapidly integrating global financial scene wherein nation states are increasingly less significant actors, and private economic actors are increasingly more significant.

Keywords

Stock Market Corporate Governance Stock Exchange Initial Public Offering State Capacity 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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Notes

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Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 2003

Authors and Affiliations

  • Kathryn C. Lavelle

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