Beresford's Revenge: British Equity Holdings in Latin America, 1869-1929

41 Pages Posted: 15 May 2017

See all articles by Richard S. Grossman

Richard S. Grossman

Wesleyan University - Economics Department; Institute for Quantitative Social Sciences - Harvard University; Centre for Economic Policy Research

Date Written: May 2017

Abstract

This paper presents monthly capital gain, dividend yield, and total return indices, and measures of total capitalization for common equity of Latin American and Caribbean-based firms quoted on the London Stock Exchange during 1869-1929. In addition to an overall Latin American index, I present and analyze sub-indices for countries (e.g., Argentina, Brazil, Chile) and industrial sectors (e.g., banks, mines, railways) with extensive UK listings. I compare the Latin American and Argentinian indices with data from Argentina's Bolsa index during 1900-1929. I also use the indices to compare equity market fluctuations across Latin American sectors and countries during the Baring crisis of 1890.

Keywords: Argentina, Baring crisis, economic history, Latin America, London Stock Exchange

JEL Classification: G01, G10, N23, N26

Suggested Citation

Grossman, Richard S., Beresford's Revenge: British Equity Holdings in Latin America, 1869-1929 (May 2017). CEPR Discussion Paper No. DP12042. Available at SSRN: https://ssrn.com/abstract=2968383

Richard S. Grossman (Contact Author)

Wesleyan University - Economics Department ( email )

Middletown, CT 06459
United States
(860) 685-2356 (Phone)
(860) 685-2781 (Fax)

HOME PAGE: http://rgrossman.web.wesleyan.edu

Institute for Quantitative Social Sciences - Harvard University ( email )

1875 Cambridge Street
Cambridge, MA 02138
United States

Centre for Economic Policy Research ( email )

London
United Kingdom

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