1,721,148 research outputs found
Youssef Cassis, Big business : the european experience in the twentieth century
No full textBussiere Eric. Youssef Cassis, Big business : the european experience in the twentieth century. In: Histoire, économie et société, 1998, 17ᵉ année, n°1. Industrialisation et société en Europe Occidentale (1880-1970) : nouveaux aperçus, sous la direction de Dominique Barjot et Eric Bussière. p. 216
Les grandes entreprises européennes au 20e siècle
No full textMajor European companies in the 20th century, Youssef Cassis.
It is difficult to avoid the temptation of ranking the major companies when making a comparative analysis. While such an approach can be useful by pointing out the differences and simplifying the comparative work, it accentuates the divergences to the detriment of convergences observable over the long term, nationally as well as world wide. The example of the behavior of French, English and German companies facing 20th-century crises shows that global explanatory factors give different effects to the same causes. The comparative approach has thus to take into account divergences and convergences so as to deepen the analysis rather than simplify it by general categories and rankings.Cassis Youssef. Les grandes entreprises européennes au 20e siècle. In: Vingtième Siècle, revue d'histoire, n°52, octobre-décembre 1996. Les crises économiques du 20e siècle. pp. 102-113
Finance, financiers and financial centres:a special issue in honour of Youssef Cassis Introduction
No full textThis special issue celebrates the career of Youssef Cassis. The introduction will outline his major contributions from his initial work on social characteristics of the financiers of the City of London, and their relationship with landed aristocrats and industry, through his analysis of a succession of financial centres, the comparative study of big business, the relationship between finance and politics, to his new project on the memory of financial crises. Then, we will draw on Youssef's mode of analysis to consider some of the more pressing issues in the era since the global financial crisis and the impact of Covid-19. We will consider the role of central banks, the challenge of fintech, the impact of low interest rates on inequality, savings and debt, and the potential shift in financial centres and reserve currencies with the rise of China. We will conclude by arguing that the mode of analysis developed by Cassis over his long and productive career has never been more pertinent
„Istenben bízunk.” És még miben? – A bizalom pénzügyi letéteményei Nyugat-Európa elmúlt 250 éves történetében Gondolatok Youssef Cassis és Giuseppe Telesca (szerk.) Pénzügyi elitek és az európai bankrendszer című könyvéhez (Pallas Athéné Könyvkiadó, 2020)
Get PDFA gazdasági és társadalmi folyamatok iránti bizalom megteremtésének szolgálata a pénzügyek egy kevéssé
hangsúlyozott vonulata. Jelen írás a Youssef Cassis és Giuseppe Telesca szerkesztésében megjelent
pénzügytörténeti áttekintésekhez fűzött kommentárokkal azonosítani igyekszik a pénz, a pénzügyi
eszközök és a pénzügyi intézményrendszer azon elemeit, amelyek a francia forradalom óta bizalmi
infrastruktúraként funkcionáltak a nyugati világban. Ez a perspektíva némi eligazításul is szolgálhat a
digitális pénzügyi forradalom küszöbén.
A hazai olvasóközönség a Pallas Athéné Könyvkiadó révén a tavalyi évtől magyar nyelven is
megismerheti azt a mintegy tizenhárom szerző írását tartalmazó kötetet, amely Youssef Cassis és Giuseppe
Telesca szerkesztésében áttekintést kíván nyújtani a pénzügyi vezetés elmúlt 250 éves nyugat-európai
történetéről. E vállalkozás háttereként a szerkesztők „a globalizált világgazdaság elmúlt harminc évének
ellentmondásait, különösen a növekvő jövedelmi és vagyoni egyenlőtlenségeket, illetve a 2008-as
gazdasági válság kirobbanását” festik fel, amely szerintük újraéleszti az elit – mint a vezetés kiemelt
szereplőinek – tudományos igényű elemzését
"The Activities of a Japanese Bank in the Interwar Financial Centers: A Case of the Yokohama Specie Bank"
Get PDFThis paper aims to analyze the role of a branch of a Japanese bank in the internationals financial centers and its change during the Interwar period. Branches of international exchange banks generally buy bills for goods exported from where they exist, to collect bills for goods imported to where they exist, and to transfer funds with other branches. In addition to these "ordinary" businesses branches in the international financial centers raise funds by selling bills there or by borrowing money from other banks, to makes investments for securing reserves, and to advise letters of credit issued by large banks there. This paper sheds light on these activities of the Yokohama Specie Bank, which was the largest international exchange bank in Japan before the Second World War and shows that branches in London and New York facilitated the flow of funds within the bank. The Interwar period saw significant change in international money flow as New York grew to an international financial center, which was as important as London and also saw the Great Depression and international conflicts after that. This paper analyzes how businesses of the two branches changed in order to cope with turbulence in the financial markets.
The Activities of a Japanese Bank in the Interwar Financial Centers: A Case of the Yokohama Specie Bank
Get PDFThis paper aims to analyze the role of a branch of a Japanese bank in the internationals financial centers and its change during the Interwar period. Branches of international exchange banks generally buy bills for goods exported from where they exist, to collect bills for goods imported to where they exist, and to transfer funds with other branches. In addition to these ?ordinary? businesses branches in the international financial centers raise funds by selling bills there or by borrowing money from other banks, to makes investments for securing reserves, and to advise letters of credit issued by large banks there. This paper sheds light on these activities of the Yokohama Specie Bank, which was the largest international exchange bank in Japan before the Second World War and shows that branches in London and New York facilitated the flow of funds within the bank. The Interwar period saw significant change in international money flow as New York grew to an international financial center, which was as important as London and also saw the Great Depression and international conflicts after that. This paper analyzes how businesses of the two branches changed in order to cope with turbulence in the financial markets.
Where It All Began: Lending of Last Resort and the Bank of England During the Overend, Gurney Panic of 1866.
Get PDFThe National Monetary Commission was deeply concerned with importing best practice. One important focus was the connection between the money market and international trade. It was said that Britain’s lead in the market for “acceptances” originating in international trade was the basis of its sterling predominance. In this article, we use a so-far unexplored source to document the portfolio of bills that was brought up to the Bank of England for discount and study the behavior of the Bank of England during the crisis of 1866 (the so-called Overend-Gurney panic) when the Bank began adopting lending of last resort policies (Bignon, Flandreau and Ugolini 2011). We compare 1865 (a “normal” year) to 1866. Important findings include: (a) the statistical predominance of foreign bills in the material brought to the Bank of England; (b) the correlation between the geography of bills and British trade patterns; (c) a marked contrast between normal times lending and crisis lending in that main financial intermediaries and the “shadow banking system” only showed up at the Bank’s window during crises; (d) the importance of money market investors (bills brokers) as chief conduit of liquidity provision in crisis; (e) the importance of Bank of England’s supervisory policies in ensuring lending-of-last resort operations without enhancing moral hazard. An implication of our findings is that Bank of England’s ability to control moral hazard for financial intermediaries involved in acceptances was another reason for the rise of sterling as an international currency.
Where It All Began: Lending of Last Resort and the Bank of England during the Overend, Gurney Panic of 1866
Get PDFThe National Monetary Commission was deeply concerned with importing best practice. One important focus was the connection between the money market and international trade. It was said that Britain’s lead in the market for “acceptances” originating in international trade was the basis of its sterling predominance. In this article, we use a so-far unexplored source to document the portfolio of bills that was brought up to the Bank of England for discount and study the behavior of the Bank of England during the crisis of 1866 (the so-called Overend- Gurney panic) when the Bank began adopting lending of last resort policies (Bignon, Flandreau and Ugolini 2011). We compare 1865 (a “normal” year) to 1866. Important findings include: (a) the statistical predominance of foreign bills in the material brought to the Bank of England; (b) the correlation between the geography of bills and British trade patterns; (c) a marked contrast between normal times lending and crisis lending in that main financial intermediaries and the “shadow banking system” only showed up at the Bank’s window during crises; (d) the importance of money market investors (bills brokers) as chief conduit of liquidity provision in crisis; (e) the importance of Bank of England’s supervisory policies in ensuring lending-of-lastresort operations without enhancing moral hazard. An implication of our findings is that Bank of England’s ability to control moral hazard for financial intermediaries involved in acceptances was another reason for the rise of sterling as an international currency.
The Rise and Fall of the Dollar, or When Did the Dollar Replace Sterling as the Leading International Currency?
Get PDFWe present new evidence on the currency composition of foreign exchange reserves in the 1920s and 1930s. Contrary to the presumption that the pound sterling continued to dominate the U.S. dollar in central bank reserves until after World War II, we show that the dollar first overtook sterling in the mid-1920s. This suggests that the network effects thought to lend inertia to international currency status and to create incumbency advantages for the dominant international currency do not apply in the reserve currency domain. Our new evidence is similarly incompatible with the notion that there is only room in the market for one dominant reserve currency at a point in time. Our findings have important implications for our understanding of interwar monetary history but also for the prospects of the dollar and the euro as reserve currencies.
Le défi économique ou comment sortir de l'ordinaire
No full textCe mémoire de synthèse fait partie du dossier d'habilitation à diriger des recherches, soutenu le 13 décembre 2002 à l'Université de Paris-Sorbonne Paris IV devant un jury composé des professeurs Youssef Cassis, président, Dominique Barjot, directeur d'habilitation, Eric Bussière, Jean-Pierre Daviet et Michel Hau. Il fait le bilan de travaux consacrés à l'industrialisation alsacienne aux XIXe-XXe siècles, aux entrepreneurs et aux facteurs anthropologiques de la réussite économique. La réflexion aboutit à trois conclusions provisoires : le clivage confessionnel, s'il ne peut être analysé en termes d'aptitudes, n'est pas neutre et se traduit notamment par un sens du collectif des minorités protestante et juive s'opposant à l'individualisme catholique. Le rapport au territoire constitue un deuxième facteur de différenciation culturelle qui fait intervenir les identités locales ou régionales, les migrations, la volonté d'ancrage. Enfin, une troisième variable est celle de l'horizon temporel de l'entrepreneur : sont en jeu les identités culturelles et sociales, les stratégies de formation, les pratiques familiales, les évolutions intergénérationnelles. Il serait intéressant de tester ces observations dans une analyse factorielle portant sur l'ensemble du patronat français du Second Empire. Nicolas Stoskopf est actuellement professeur à l'Université de Haute-Alsace, directeur du Centre de recherche sur les économies, les sociétés, les arts et les techniques (CRESAT, EA 3436)
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