A History of Stock Exchanges: The Role of Institutions in Shaping Market Evolution

— —

Mehmet Baha Karan

A History of Stock Exchanges

The Role of Institutions in Shaping Market Evolution

Mehmet Baha Karan

$221.95 $177.72

Hardback

Not in-store but you can order this
How long will it take?

Availability Information

We source books from suppliers in Australia and overseas. For books we don't currently have in stock, the time it takes to get them from our suppliers can vary widely - from a few days to a few months - so we check each book with each supplier to determine the expected time it will take to be supplied to us.

We then advise you accordingly. If the time taken to get any book is too long for you, you can let us know and we will cancel or adjust your order, and refund as required.

To find out the anticipated arrival time for specific items prior to ordering, please contact us by phone or email:

Phone +61 2 9264 3111, or 1800 4 BOOKS (1800 4 26657) if outside Sydney:
option 1 Abbey's Bookshop (Crime, History, Science, Kids & more) • info@abbeys.com.au
option 2 Language Book Centre (ESL & Foreign Languages) • language@abbeys.com.au
option 3 Galaxy Bookshop (Sci-fi, Fantasy, Romance, Graphic Novels) • sf@galaxybooks.com.au

QTY:

English

Springer Nature Switzerland AG
26 October 2025

Economic theory & philosophy; Economic history; Finance

Series: Contributions to Economics

This book offers a vivid and accessible narrative of the evolution of financial markets from the first millennium to 2025. Through compelling historical accounts and engaging storytelling, it brings to life the complex transformations that have shaped global finance.

While Western financial centers such as Antwerp, Amsterdam, London, Paris, and Wall Street are thoroughly explored, the book also highlights the often-overlooked contributions of the East—including Islamic finance, ancient trade routes, and the Istanbul Stock Exchange.

Grounded in the institutional framework of Daron Acemoğlu and James Robinson—who argue that inclusive institutions are key to long-term development—and informed by Andrew Lo’s Adaptive Markets Hypothesis, the book examines how financial systems have responded to shifting political, cultural, and economic forces.

Far more than a chronological history of stock exchanges, this is a global narrative of how institutions, adaptation, and the power of storytelling have shaped the financial world across centuries.

By: Mehmet Baha Karan
Imprint: Springer Nature Switzerland AG
Country of Publication: Switzerland
Dimensions: Height: 235mm, Width: 155mm,
ISBN: 9783032077875
ISBN 10: 3032077877
Series: Contributions to Economics
Pages: 409
Publication Date: 26 October 2025
Audience: General/trade , ELT Advanced
Format: Hardback
Publisher's Status: Active

Chapter 1. Introduction: The Development of Trade in the Mediterranean Basin and the Middle East (1st-13th Century).- Chapter 2. Lyon Trade: From Fairs to Money Markets (13th -14th Century).- Chapter 3. Bruges: The Cradle of Market Capitalism (13th-15th Century).- Chapter 4. Antwerp: The First Global Trade Capital (16th Century).- Chapter 5. Amsterdam: The World's First Stock Exchange (17th Century).- Chapter 6. London: The First Truly Global Stock Exchange (18th -19th Century).- Chapter 7. Paris Bourse: The Financial Center of Continental Europe (18th-19th Century).- Chapter 8. The Istanbul Bourse: The First Stock Exchange of the East (19th Century).- Chapter 9. The New York Stock Exchange: The Birth of Wall Street and the Stock Barons (18th -19th Century).- Chapter 10. The Roaring Years, the Great Depression, and the New Deal (Early 20th Century).- Chapter 11. The Post-Bretton Woods Era and Financial Scandals (20th - 21st Century).- Chapter 12. Conclusion: Inclusive Institutions and the Future of Stock Markets.

Mehmet Baha Karan is a Professor of Finance at the Faculty of Economics and Administrative Sciences, Hacettepe University, Ankara, Turkey. His research focuses on financial economics and energy economics. He is a board member of the Multinational Finance Society and co-founder of the Center for Energy and Value Issues (CEVI). He is passionate about fair competition in financial markets and independent central banks. His previous book, A History of Banks (2024), was published by Springer.