A Brief History of Investment Banking from Medieval Times to the Present

Oxford Handbook of Banking and Financial History, Edited by Youssef Cassis, Catherine Schenk, and Richard Grossman, 2016

40 Pages Posted: 16 Nov 2014 Last revised: 9 Aug 2016

See all articles by Caroline Fohlin

Caroline Fohlin

Emory University; Centre for Economic Policy Research (CEPR)

Date Written: November 12, 2014

Abstract

Investment banking taken generally to mean the financing of long-term capital needs, came into being with the merchants of medieval trade routes. In almost all developed economies of the world, even those developing late in the 19th century, investment bankers emerged from merchant roots. The provision of investment banking services has come from a variety of institutions over time and across countries. Products and services have evolved to include complex, often derivative, securities; and the legal regulation of investment banking has often changed abruptly, particularly in the last 100 years. Thus, even well-known investment banking names that have endured over the centuries bear little resemblance to their ancestors.

Keywords: Investment banking, merchant bank, universal banking, law and finance

JEL Classification: G2, K22, N1, N2, O1, O4

Suggested Citation

Fohlin, Caroline, A Brief History of Investment Banking from Medieval Times to the Present (November 12, 2014). Oxford Handbook of Banking and Financial History, Edited by Youssef Cassis, Catherine Schenk, and Richard Grossman, 2016, Available at SSRN: https://ssrn.com/abstract=2524636 or http://dx.doi.org/10.2139/ssrn.2524636

Caroline Fohlin (Contact Author)

Emory University ( email )

Dept. of Economics
Atlanta, GA Georgia 30322
United States
4047276363 (Phone)

HOME PAGE: http://https://scholar.google.com/citations?user=Ma08bxEAAAAJ&hl=en

Centre for Economic Policy Research (CEPR) ( email )

London
United Kingdom

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
1,060
Abstract Views
4,907
rank
22,369
PlumX Metrics