The Nineteenth Century as the Cradle of Global Capital

Authors: Zinkina, Julia; Andreev, Alexey I.; Mosakova, Elizaveta
Almanac: Globalistics and Globalization Studies Global Evolution, Historical Globalistics and Globalization Studies

In the nineteenth century some attempts were made to create an international financial regulatory system to internationally manage flows of innovations. One of the clearest manifestations of this aspiration was the emergence of various international monetary systems and unions. The most famous and popular among them was the international gold standard. Another major innovation of the nineteenth century was the creation of a truly global financial market of capital (the spread of the gold standard greatly contributed to this phenomenon). It should be noted that this system possessed a number of important differences from our contemporary global investment market. In this paper we will discuss the peculiarities of the nineteenth-century global capital movements in more detail.

Keywords: the nineteenth century, global financial system, foreign investments, international monetary system, gold standard.