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The rise and decline of the Irish stock market, 1865–1913

Published online by Cambridge University Press:  04 April 2005

CHARLES R. HICKSON  and
JOHN D. TURNER
CHARLES R. HICKSON
Affiliation:
School of Management and Economics, Queen's University of Belfast, Belfast, BT7 1NN
JOHN D. TURNER
Affiliation:
School of Management and Economics, Queen's University of Belfast, Belfast, BT7 1NN
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Abstract

Little is known about the size and performance of the Irish stock market in the half-century before 1914. Using data obtained from the Investors' Monthly Manual, we calculate total market capitalisation and construct a stock market index for the period 1865 to 1913. In addition, we also calculate dividend yields, and examine the performance of the market for company debentures. The results show that the Irish stock market grew steadily up until 1897; thereafter it declined markedly. We speculate that this decline may be explained by political developments.

Type
Research Article
Information
European Review of Economic History , Volume 9 , Issue 1 , April 2005 , pp. 3 - 33
Copyright
© Cambridge University Press 2005

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