The Emergence of a National Capital Market in England, 1710–1880
通过比较伦敦利率与米德尔塞克斯和西约克郡的年度注册财产交易数据，研究了18世纪伦敦金融市场与国内实体资本市场的联系，发现18世纪中期联系较弱，但到18世纪末已变得紧密，区域市场在拿破仑战争时期实现整合。
Was eighteenth-century London's financial market linked to domestic real capital markets? When did English capital markets cease to be regionally segmented? We compare London interest rates with annual registered property transactions in Middlesex and in West Yorkshire. This evidence, though tentative, suggests that London financial markets were weakly linked to local real capital markets in the mid-eighteenth century. By the late eighteenth century those links were strong. Regional markets were still segmented in the mid-eighteenth century but were integrated by the time of the Napoleonic War.