From 1921 to 1936, government officials and wheat and corn marketing industry leaders worked together to build a better financial market than had existed in the 19th century—for all users and for all time. The markets for exchange-traded derivative products (e.g. futures and options) in a form almost unchanged from 1936 now dominate many aspects of global finance. This book reveals how and why this U.S. interwar collaboration—rather than the oft-assumed battle—between government and the markets led to the development of key features (both of function and control) of the now-ubiquitous financial and commodities futures exchanges. In addition to its appeal to academics, this history provides important lessons for today’s industry and policy leaders caught in the current debate on how best to structure a post-crisis financial system, suggesting that participation by both governments and industry is required to design, co-regulate and control successful markets.
- ISBN: 978-3-319-93183-8
- Editorial: Palgrave Macmillan
- Encuadernacion: Cartoné
- Fecha Publicación: 11/11/2018
- Nº Volúmenes: 1
- Idioma: Inglés