The article uses recent exchange-rate data to explore the progressive integration of early eighteenth-century, West European financial markets. The process climaxed in 1719 and 1720 with the Mississippi Bubble in Paris, the South Sea Bubble in London, and the insurance bubbles in Hamburg and throughout Holland. Only Paris failed to integrate permanently into the new multinational network.
Anne L. Murphy, The Origins of English Financial Markets: Investment and Speculation before the South Sea Bubble (Cambridge: Cambridge University Press, 2009, 258 pp., cloth, £55.00)
