A new article by Prof. Dr. Christine Trampusch has been published in Jahrbuch für Wirtschaftsgeschichte 59(1): 105-134.
The article "Liberal Financial Markets in the Interest of Staatskredite – A Process-Tracing Study of the Link between Sovereign Debt Policy and the 1908 Bourse Law Reform in the German Empire" argues that the “self-undermining negative policy feedback effects” of the initial Bourse Law of 1896 on the market for Imperial and state bonds explain why exchange regulation was liberalized although the dominant political forces, the Conservatives and the Clericals, were opposed to bourses and capital markets.