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dc.contributor.authorMays, Andrew
dc.contributor.authorShea, Gary S
dc.identifier.citationMays , A & Shea , G S 2012 ' A social network for trade and inventories of stock during the South Sea Bubble ' CDMA Working Paper , no. 1110 .en
dc.description.abstractA social network of stock trading is defined for the notorious South Sea Bubble. Complete market trade in East India Company and Bank of England shares is described in a flow network. Intermediation is treated as a form of network centrality, which can be analysed using measures of pass-through, inventories and immediacy. New features of the South Sea Bubble are documented: i) the crisis suffered by goldsmith bankers may have pre-dated the Bubble; ii) yet the depth and immediacy of intermediation was maintained throughout the Bubble; iii) a gradual trend towards dis-intermediation occurred after the Bubble and iv) a there was a switch from intermediation based upon brokerage to intermediation based upon dealership.
dc.relation.ispartofseriesCDMA Working Paperen
dc.subjectWeighted multidigraphen
dc.subjectFlow networken
dc.subjectFinancial intermediationen
dc.subjectHC Economic History and Conditionsen
dc.titleA social network for trade and inventories of stock during the South Sea Bubbleen
dc.typeWorking or discussion paperen
dc.contributor.institutionUniversity of St Andrews. School of Economics and Financeen
dc.contributor.institutionUniversity of St Andrews. Centre for Dynamic Macroeconomic Analysisen

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