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GEST D 411 Investments in a historical perspective

COURSE OUTLINE:

This course provides an overview of the evolution of financial markets since the 17th century. Its aim is to show what history can bring to finance, notably by analyzing long-term relationships (Equity premium, long term implications for defaulting on sovereign debts …) but also by analyzing events which do not occur frequently and for which history can bring meaningful insights (Speculative bubbles, wars, secessions or repudiations…).

Slides:

Introduction
Sovereign Debts: A Historical Perspective
Repudiations, annexations and Country Break-up
Sovereign bonds: Odious debts and state succession (courtesy of Stéphanie Collet)
Sovereign debts in wartime
Institutions and sovereign debts; Globalization
Equity: A Long Term Perspective
Tulipmania, South Sea Bubble and Mississipi Bubble
1929


Readings

References