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Discussion Paper Details

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Title: Beresford's Revenge: British equity holdings in Latin America, 1869-1929

Author(s): Richard Grossman

Publication Date: May 2017

Keyword(s): Argentina, Baring crisis, economic history, Latin America and London Stock Exchange

Programme Area(s): Economic History and Financial Economics

Abstract: This paper presents monthly capital gain, dividend yield, and total return indices, and measures of total capitalization for common equity of Latin American and Caribbean-based firms quoted on the London Stock Exchange during 1869-1929. In addition to an overall Latin American index, I present and analyze sub-indices for countries (e.g., Argentina, Brazil, Chile) and industrial sectors (e.g., banks, mines, railways) with extensive UK listings. I compare the Latin American and Argentinian indices with data from Argentina's Bolsa index during 1900-1929. I also use the indices to compare equity market fluctuations across Latin American sectors and countries during the Baring crisis of 1890.

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Bibliographic Reference

Grossman, R. 2017. 'Beresford's Revenge: British equity holdings in Latin America, 1869-1929'. London, Centre for Economic Policy Research. http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=12042