Historical case study shows banks in 1830s Belgium securitized corporate securities while also acting as market-makers, creating coevolutionary feedback between banks and markets driven by both structural and cyclical factors.
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The Coevolution of Banks and Corporate Securities Markets: The Financing of Belgium's Industrial Take-Off in the 1830s
Historical case study shows banks in 1830s Belgium securitized corporate securities while also acting as market-makers, creating coevolutionary feedback between banks and markets driven by both structural and cyclical factors.