Argentina:
 Stock Exchange:
o 1913: Doman, R, Manual de Bolsa de Buenos Aires 1913.
o 1929 - 1950: data not available.
o 1960: Stock Exchanges in Latin America.p 20.
o 1970: Estadisticas historicas argentinas : compendio 1873-1973.
o 1980: FIBV Statistics 1980 (issue of 1980). Table 1.A. Pg. 6 of fax.
Photocopy available. Alternative source: Estadisticas historicas argentinas:
Suplemento 1970-1990.
o 1990: FIBV Statistics 1990 (issue of 1990). Table I.3.A. pg. 13.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999). Table I.3.A. pg. 88.
Photocopy available.
 Issues:
o 1913-1950: data not available.
o 1960: Ibarra, F., Estadisticas del sistema financiero argentino. 1972
o 1970: as above
o 1980: Emerging Market Factbook.
o 1990: FIBV Statistics 1990 (issue of 1990). Equity issues from table I.8.A,
pg. 27. No bond issues available. Photoc. Available.
o 1999: FIBV Statistics 1999 (issue of 1999). Equity issues from table I.8.A,
pg. 109. No bond issues available. Photoc. Available.
 # Companies:
o 1913: Doman, R, Manual de la Bolsa de Comercio de Buenos Aires 1913.
o 1929 - 1950: data not available.
o 1960- 1980: Estadisticas historicas argentinas : Suplemento 1970-1990.
o 1990: IFC, Emerging Stock Markets Factbook 1996, page23. Domestic
companies only. Photocopy Available.
o 1999: FIBV Statistics 1999 (issue of 1999). Table I.1, pg. 86. Datum only
for domestic companies. Photocopy available.
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: The Americas
1750-1988, table G2, pages 637-8 (commercial deposits) and table G3, pages 6456.
1900-1999: Mitchell.
Source #2: IMF, International Financial Statistics, Photocopies available for
all unless noted otherwise:
o 1938: IFS, Jan 1954 issue, pg. 42.
o 1950: IFS, Jan 1954 issue, pg. 42.
o 1960: IFS, March 1962 issue, pg. 46.
o 1970: IFS, Oct 1974 issue, pg. 50.
1
o 1980: IFS, Feb 1983 issue, pg. 70.
o 1990: IFS, June 1992 issue, pg. 80.
o 1999: IFS, April 1999 issue, pg. 104.
 Per Capita GDP:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18291992. Table D-1a, pg. 195-6. The data are in 1990 Geary-Khamis Dollars.
Photocopy available (Mitchell binder).
 Population:
o 1913-1990: Maddison, Angus. Monitoring the World Economy 18291992". Table A-3a, pg. 104-5. The data are in 1990 Geary-Khamis
Dollars. Photocopy available (Mitchell binder).
o 1999: IMF, Int’l Financial Statistics, April 1999, pg. 102, lines 24, 25.
 National Accounts:
o 1913-1950: Estadisticas historicas argentinas, Vol.2.
o 1960: IFS, March 1962 issue, pg. 46. Photocopy Available.
o 1970: IFS, Oct 1974 issue, pg. 50. Photocopy Available.
o 1980: IFS, Feb 1983 issue, pg. 70.
o 1990: IMF, Int’l Financial Statistics, June 1992, pg. 82, lines 99bc, 93ec
o 1999: IMF, Int’l Financial Statistics, April 1999, pg. 102, lines 99bc, 93ec
Australia:
 Stock Exchange:
o 1900: Hall, A.R. The Stock Exchange of Melbourne and the Victorian
Economy: 1852-1900, 1968, table 12, page 230. Melbourne alone.
Photocopy available.
o 1913: Estimate of all stock exchanges based on the Sidney 1913 market
capitalization, computed from the listing contained in the Australasian
Bank Record, expanded to all stock exchanges using Lamberton, D. McL.
Share Price Indices in Australia, pg. 6. Photocopy available.
o 1929: Lamberton, D. McL. Share Price Indices in Australia, pg. 6.
Lamberton estimates the Sydney capitalization at 340 million, though
estimates Australia’s overall capitalization to be in the vicinity of 400
million. Photocopy available
o 1938: Rose, P.J. Australian Securities Markets (1969), pg. 54. The data is
on Melbourne only and includes the market value of ordinary shares,
mining securities, and preference securities. Phot. Available.
o 1950: Rose, P.J. Australian Securities Markets (1969), pg. 54. The data is
on Melbourne only and includes the market value of ordinary shares,
mining securities, and preference securities. Phot. Available.
2
o 1960: Rose, P.J. Australian Securities Markets (1969), pg. 54. The data is
on Melbourne only and includes the market value of ordinary shares,
mining securities, and preference securities. Phot. Available.
o 1970: Reserve Bank of Australia, Occ. Paper #8A. Australian Economic
Statistics 1949-50 to 1982-83: I Tables, table 3.18, pg. 84. Datum for 1973
Photocopy available.
o 1980: FIBV Statistics 1980 (issue of 1990). Table 1.A. Pg. 6 of fax.
Photocopy available.
o 1990: FIBV Statistics 1990 (issue of 1990). Table I.3.A. pg. 13.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999). Table I.3.A. pg. 88.
Photocopy available.
o Alt. sources 1980: Reserve Bank of Australia, Occ. Paper #8A. Australian
Economic Statistics 1949-50 to 1982-83: I Tables, table 3.18, pg. 84.
Photocopy available.
 Issues:
o 1913: data not available
o 1929: 1923 datum estimated from Jobson’s Investment Digest. See
spreadsheet Australia_Jobson_1913. Includes issues from new and
existing companies.
o 1938: Data not available.
o 1950: : Reserve Bank of Australia, Occ. Paper #8A. Australian
Economic Statistics 1949-50 to 1982-83: I Tables, table 3.18, pg.
82. Average 1949-1950 and 1950-1951. Photocopy available.
o 1960: Reserve Bank of Australia, Occ. Paper #8A. Australian
Economic Statistics 1949-50 to 1982-83: I Tables, table 3.18, pg.
82. Average 1959-1960 and 1960-1961. Photocopy available.
o 1970: as above
o 1980: as above
o 1990: FIBV Statistics 1990 (issue of 1990). Equity issues from table I.8.A,
pg. 27. No bond issues available. Photoc. Available.
o 1999: FIBV Statistics 1999 (issue of 1999). Equity issues from table I.8.A,
pg. 109. No bond issues available. Photoc. Available.
 # Companies:
o 1900: Hall, A.R. The Stock Exchange of Melbourne and the Victorian
Economy: 1852-1900, 1968, table 12, page 230. Photocopy available.
o 1913: 1913 datum for Sydney obtained from Australasian Bank Record,
expanded to all stock exchanges using Lamberton, D. McL. Share Price
Indices in Australia, pg. 6.
o 1929: Lamberton, D. McL. Share Price Indices in Australia, 1958, pp.5-9
Photocopy available.
o 1938: 1939 datum for Sidney see spreadsheet Australia.
3
o 1950: Hirst, R.R., and R.H. Wallace. Studies in the Australian Capital
Market (1964), compiled from pgs. 14 and 26. Photocopy available.
o 1960: Hirst, R.R., and R.H. Wallace. Studies in the Australian Capital
Market (1964), compiled from pgs. 14 and 26. Photocopy available.
o 1970: data not available
o 1980: FIBV Statistics 1980 (issue of 1980). Table 2, pg. 3 of fax. Datum
only for domestic companies. Photocopy available.
o 1990: IFC, Emerging Stock Markets Factbook 1996, page23. Domestic
companies only. Photocopy Available.
o 1999: FIBV Statistics 1999 (issue of 1999). Table I.1, pg. 86. Datum only
for domestic companies. Photocopy available.
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: Australasia
1750-1993, table H2 (commercial deposits) and table H3. Photo. available.
o 1900-1999: Mitchell.
Source #2: IMF, International Financial Statistics, Photocopies available for
all unless noted otherwise:
o 1913-1929: data not available
o 1938: IFS, Jan 1954 issue, pg. 42. Photocopy Available.
o 1950: IFS, Jan 1954 issue, pg. 42. Photocopy Available.
o 1960: IFS, March 1962 issue, pg. 46. Photocopy Available.
o 1970: IFS, Oct 1974 issue, pg. 50. Photocopy Available.
o 1980: IFS, Feb 1983 issue, pg. 70. Photo NOT Avail.
o 1990: IFS, June 1992 issue, pg. 80. Photo NOT Avail.
o 1999: IFS, April 1999 issue, pg. 104. Photo NOT Avail.
 Per Capita GDP:
o 1913-1998: Maddison, Angus. Monitoring the World Economy 18291992. Table D-1a, pg. 195-6. The data are in 1990 Geary-Khamis Dollars.
Photocopy available (Mitchell binder).
 Population:
o 1913-1990: Maddison, Angus. Monitoring the World Economy 18291992". Table A-3a, pg. 104-5. The data are in 1990 Geary-Khamis
Dollars. Photocopy available (Mitchell binder).
o 1998: IMF, Int’l Financial Statistics, April 1999, pg. 102, lines 24, 25.
 National Accounts:
o 1913-1950: Mitchell, B.R. International Historical Statistics: The
Americas and Australasia 1750-1988, table K1, pg. 905. Photocopy
available (Mitchell binder).
o 1960: IFS, March 1962 issue, pg. 46. Photocopy Available.
o 1970: IFS, Oct 1974 issue, pg. 50. Photocopy Available.
o 1980: IFS, Feb 1983 issue, pg. 70. Photo NOT Avail.
4
o 1990: IMF, Int’l Financial Statistics, June 1992, pg. 82, lines 99bc, 93ec
Photo NOT Avail.
o 1999: IMF, Int’l Financial Statistics, April 1999, pg. 102, lines 99bc, 93ec
Photo NOT Avail.
o Alternative Sources:
 1960-1970: Mitchell, B.R. International Historical Statistics: The
Americas and Australasia 1750-1988, table K1, pg. 905.
Photocopy available (Mitchell binder).
Austria:
 Stock Exchange:
o 1900: Bulletin de l’Institut International de Statistique. Tome XX, 1915,
pg. 1351. Extrapolated from total securities in 1900 and ratio of stock to
securities in 1913. Photocopy available.
o 1913: Bulletin de l’Institut International de Statistique. Tome XX, 1915,
pg. 1352. Value for 1912. Photocopy available.
o 1929-1960: Data not available.
o 1970: OECD, Financial Statistics (issue of 1970), table I.C.2/02, page 64.
Datum for 1969. Photocopy available.
o 1980: FIBV Statistics 1980 (issue of 1980).Table I.A, pg. 6 of fax. Photoc.
Available.
o 1990: FIBV Statistics 1990 (issue of 1990), Table I.3.A., pg. 13. Photoc.
Available.
o 1999: FIBV Statistics 1999 (issue of 1999), Table I.3.A., pg. 88. The xrate schillings/euro = 13.7 is used. Photocopy available.
 Issues:
o 1913-1913: Data not available.
o 1929: Statistischen Reichsamt, Statistisches Jahrbuch für das Deutsche
Reich 1936, Berlin 1936, table 21, pg. 242. Photocopy available.
o 1938-1950: Data not available
o 1960: OECD, Financial Statistics (issue of 1970, part 2), table I.C.3/02,
page 66. Datum from 1965. Includes private non-financial enterprises and
financial institutions. Photocopy available.
o 1970: OECD, Financial Statistics (issue of 1974, part 1), table I.C.3/02,
page 34. Includes private non-financial enterprises and financial
institutions. Photocopy available.
o 1980: FIBV Statistics 1982 (issue of 1983). Tables 13A and 14A, pgs.
10,11. Domestic bonds only. Photocopy available.
o 1990: FIBV Statistics 1990 (issue of 1990). Tables I.8A and II.6.A, pgs.
27, 42. New capital raised includes existing and newly listed companies.
Bonds are from domestic and private sector. Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999). Tables I.8A and II.5.A, pgs.
110, 126. New capital raised includes existing and newly listed
5
companies. Bonds are from domestic and private sector. The x-rate
schillings/euro = 13.7 is used. Photocopy available.
o Alternative sources: League of Nations, International Statistical Yearbook 1928 (issue of 1928), Table 100, page 207. Photocopy available.
 # Companies:
o 1913-1970: Baltzarek, Franz. Die Geschichte der Wiener Börse, 1973,
table 3, page 161. Photocopy available.
o 1980: FIBV Statistics 1980 (issue of 1980), table 2, pg. 3 of fax.
Photocopy available.
o 1990: IFC, Emerging Stock Markets Factbook 1996, pg. 23. Domestic
companies only. Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.1, pg. 86. Domestic
companies only. Photocopy available.
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: Europe 17501988, pgs. 774, 778 (Commercial) and 780/1, 784, 788 (Deposits). Photocopy
available.
o 1900-1999: Mitchell. Note that for 1999, both values are from 1993.
Source #2: IMF, International Financial Statistics, Photocopies available for
all unless noted otherwise:
o 1913-1929: data not available
o 1950: IFS, Jan 1954 issue, pg. 46. Photocopy Available.
o 1960: IFS, March 1962 issue, pg. 50. Photocopy Available.
o 1970: IFS, Oct 1974 issue, pg. 54. Photocopy Available.
o 1980: IFS, Feb 1983 issue, pg. 74. Photo NOT Avail.
o 1990: IFS, June 1992 issue, pg. 84 Photo NOT Avail.
o 1999: IFS, April 1999 issue, pg. 108. Photo NOT Avail.
 Per Capita:
o 1913-1998: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 194-195. Note that the datum for 1999 is from 1994.
Photocopies available.
 Population:
o 1913-1990: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 104-105. Photocopy available.
o 1998: IMF, International Financial Statistics, April 1999 issue, pg. 112,
line 99z. Photo NOT Avail.
 National Accounts:
o 1913-1938: Mitchell, B.R. International Historical Statistics: Europe 17501988, pg. 892. Photocopy available.
6
o 1950: IMF, International Financial Statistics, vol VII, #1, Jan 1954 issue,
pg. 46, line 94. Photocopy available.
o 1960: IMF, International Financial Statistics, vol XV, #1, Jan 1962 issue,
pg. 52, lines 91 and 92c. Photocopy available.
o 1970: IMF, International Financial Statistics, October 1974 issue, pg. 56
lines 99b and 93e. Photocopy available.
o 1980: IMF, International Financial Statistics, March 1983 issue, pg. 74
lines 99b and 93e.
o 1990: IMF, International Financial Statistics, June 1992 issue, pg. 86, lines
99b + 93e.
o 1998: IMF, International Financial Statistics,
Belgium:
 Stock Exchange:
o 1913: Bulletin de l’Institut International de Statistique. Tome XX, 1915,
pg. 1354. Datum from May 1913. Photocopy available.
o 1929: Chlepner, B.S. Le Marche Financier Belge Depuis Cent Ans, 1930,
page 129. Photocopy available.
o 1938-1950: Data not available.
o 1960-1970: Reyers, J. Les Bourses de Valeurs en Belgique, page 252.
Photocopy available.
o 1980: FIBV Statistics 1980 (issue of 1980), table I.A., page 6 of fax.
Photocopy available.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88.
Photocopy available. X-rate BF/euro = 40.34.
o Alternative sources: 1914-1930: Chlepner, B.S. Le Marchee Financier
Belge Depuis Cent Ans, 1930, page 129. Photocopy available.
 Issues:
o 1913-1913: Chlepner, B.S. Le Marchee Financier Belge Depuis Cent Ans,
1930, pages 75-76, 124. The values for capital and bond issue were
estimated from the average % equity between 1920-1924. Phot. available.
o 1929: Chlepner, B.S. Le Marchee Financier Belge Depuis Cent Ans, 1930,
page 124. Photocopy available.
o 1938: Statistischen Reichsamt, Statistisches Jahrbuch für das Deutsche
Reich 1941-42, Berlin 1942, table 20, pg. 285. Photocopy available.
o 1950: Data not available.
o 1960: OECD Capital Markets Study, 1967, table XXII, page 199.
Photocopy available.
o 1970: OECD, Financial Statistics, 1974 issue, part I., table I.C.3/03, page
46. Includes private non-financial enterprises and financial institutions.
7
o 1980: FIBV Statistics 1982 (issue of 1983), table 13A, page 10 of fax.
Bond issues not available. Photocopy available.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A., page 27 (equity
issues), and table II.6.A., page 42 (bond issues). Equity issues include both
already existing and newly listed companies. Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.8.A., page 109 (equity
issues), and table II.5.A., page 126 (bond issues). Equity issues include
both already existing and newly listed companies. Photocopy available.
o Alternative sources:
 1929: Statistischen Reichsamt, Statistisches Jahrbuch für das
Deutsche Reich 1933, Berlin 1933, pg. 225. Photocopy available.
 1929: League of Nations, Statistical Year-Book, 1937-38 issue,
table 136, page 302 (capital issues). Photocopy available.
 1938: League of Nations, Statistical Year-Book, 1937-38 issue,
table 136, page 302 (share and bond issues). Photo available.
 1920-1924: Chlepner, B.S. Le Marchee Financier Belge Depuis
Cent Ans, 1930, page 124. Photocopy available.
 # Companies:
o 1900: Estimated from Jorg’s spreadsheet.
o 1913: Taeuber (1911): Die Borsen der Welt, HG4551.T16 in the page 504.
Photocopy available.
o 1929-1938: Data not available.
o 1950-1970: Reyers, J. Les Bourses de Valeurs en Belgique, page 252
(both # domestic companies and total securities). Photocopy available.
o 1980: FIBV Statistics 1980 (issue of 1980), table 2, page 3 of fax.
Photocopy available.
o 1990: IFC, Emerging Stock Markets Factbook 1996, page 23.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.1, page 86. Photocopy
available.
 Deposits:
o 1913-1999: Mitchell, B.R. International Historical Statistics: Europe 17501988, pgs. 773-4, 776 (Commercial) and 780/1, 784, 788 (Deposits).
Photocopies available.
o Alternative Sources:
 1950: IMF, International Financial Statistics, vol. VII, #1, Jan 1954
issue, page 48, lines 53b and 56a. Photocopy available.
 1960: IMF, International Financial Statistics, Jan. 1962 issue, page
54, lines 43 and 44. Photocopy available.
 1970: IMF, International Financial Statistics, Oct. 1974 issue, page
58, lines 24 and 25. Photocopy available.
 1980: IMF, Int’l Financial Statistics, March 1983, v.36, n.3, pg. 84,
lines 24 and 25. Photocopy available.
 1990: IMF, Int’l Financial Statistics, June 1992, pg. 102, lines 24 +
25.
8

1999: IMF, Int’l Financial Statistics, March 1999, pg. 134, lines 24
+ 25.
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 194-195. Note that the datum for 1999 is from 1994. Photocopy
available.
 Population:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 194-195. Note that the datum for 1999 is from 1994. Photocopy
available.
o 1990: IMF, Int’l Financial Statistics, June 1992, pg. 104, line 99z.
o 1998: IMF, Int’l Financial Statistics, April 1999, pg. 140, line 99z.
 Deposits:
o 1913-1900: Data not available.
o 1913-1929: Mitchell, B.R. International Historical Statistics: Europe
1750-1988, pgs. 892. The values for GFCF are based on estimates using
GFCF/GDP ratios. Photocopies available.
o 1938-1950: IMF, International Financial Statistics, vol. VII, #1, Jan 1954
issue, page 50, line 95. Photocopy available. Both values for GCFC in
1938 and 1950 are using GFCF/GDP ratios. Photocopy available.
o 1960: IMF, International Financial Statistics, Jan. 1962 issue, page 56,
lines 90b and 93a. Photocopy available.
o 1970: IMF, International Financial Statistics, Oct. 1974 issue, page 60
lines 99b and 93e. Photocopy available.
o 1980: IMF, Int’l Financial Statistics, March 1983, v.36, n.3, pg. 86, lines
99b and 93e. Photocopy available.
o 1990: IMF, Int’l Financial Statistics, June 1992, pg. 104, lines 99b+93e.
o 1999:
Brazil:
 Stock Exchange:
o 1913: We obtained the book value of traded companies in San Paolo in
1911 from E. de Schompre La Bourse de Sao Paulo, 1911. Then we use
the market to book ratio contained in Hanley, Anne, in Business Finance
and the Sao Paulo Bolsa in Latin America and the World Economy since
1890. Coatsworth and Taylor, eds to compute the market value of the San
Paolo Stock Exchange. We estimated the value of the RioStock Exchange
assuming that the market value is proportional to the number of companies
traded (see sources below). We then sum the two because we verified in
Schompre that the amount of cross-listing was minimal (one cross listing
9
o
o
o
o
o
o
between San Paolo and Rio and four cross listing between San Paolo and
Santos).
1929-1970: data not available.
1980: IFC, Emerging Markets Factbook 1989, page 74. Currency in
cruzeiros. X-rate cruz per dollar = 65.5 in International Financial
Statistics, March 1982, pg. 96. Photocopy available.
1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13. The
currency is in cruzeiros at x-rate cruz per dollar 177.06. Phot. Available.
1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88. The
currency is in reais at the x-rate reais per dollar 1.7935. Phot. Available.
Alternative sources:
 1982: Lees, Francis A., James Botts and Rubens P. Cysne Banking
and Financial Deepening in Brazil, 1990, table 10.8, pg. 293.
Datum in dollars for 1982. End-period x-rate cruz per dollar is
252.67 in IFS, pg. 96. Photocopy available.
 1990: IFC, Emerging Markets Factbook 1996, page 133. Currency
in cruzeiros (x-rate cruz per dollar = 177). Photocopy available.
Note on currency:
 REAL: The real (R$) replaced the cruzeiro real (CR$) in 1994 at
rate of 2750:1 cruz to real.
 CRUZEIRO: The cruzeiro real replaced the cruzeiro (Cr$) in
1993 at rate of 1000 cruz to 1 cruz real. The cruzeiro replaced the
cruzado in 1989 at rate of 1000 cruzado to 1 cruzeiro. Source
Britannica Book of the Year 1996, pg. 571. Photocopy available.
 Issues:
o 1913-1938: data not available.
o 1950: Instituto Brasileiro de Geografia e Estatistica. Anuário Estatístico do
Brasil, 1956 issue, vol. 17, pg. 207. Equity issues only. Photoc. Available.
o 1960: Instituto Brasileiro de Geografia e Estatistica. Anuário Estatístico do
Brasil, 1961 issue, vol. 22, pg. 181. Equity issues only. Photoc. Available.
o 1970: Instituto Brasileiro de Geografia e Estatistica. Anuário Estatístico do
Brasil, 1971 issue, vol. 32, pg. 445. Equity issues only. Photoc. Available.
o 1980: Instituto Brasileiro de Geografia e Estatistica. Anuário Estatístico do
Brasil, 1983 issue, vol. 44, pg. 894. Equity issues only. Photoc. Available.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A, page 27 (equity
issues) and table II.6.A, page 42 (bond issues). Equity data is both already
existing and newly listed companies, whereas bonds are only domestic and
private. Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.8.A. ,page 109 (equity
issues) and table II.5.A., page 126 (bond issues). Equity data is both
already existing and newly listed companies, whereas bonds are only
domestic and private. Photocopy available.
 # Companies:
10
o 1913-1950: For Rio: Levy, Maria Bárbara. História da Bolsa de Valores
do Rio de Janeiro, 1977, tables 8 (pg. 109 for 1913), 24 (pg. 245 for
1900), 38 (pg. 385 for 1913-29), 47 (pg. 467 for 1938), and 58 (pg. 575
for 1950). Photocopy available. For Sao Paulo: in Hanley, Anne, in
Business Finance and the Sao Paulo Bolsa in Latin America and the World
Economy since 1890. Coatsworth and Taylor, eds to compute the market
value of the Sao Paulo Stock Exchange.
o 1960: Data not available.
o 1970: An Approach to Capital Markets in Brazil. Instituto Brasileiro de
Mercado de Capitais, 1973.
o 1980: Lees, Francis A., James Botts and Rubens P. Cysne Banking and
Financial Deepening in Brazil, 1990, table 10.8, pg. 293. Photocopy
available.
o 1990: IFC, Emerging Stock Markets Factbook 1996, pg. 133. Domestic
from Sao Paulo. Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table of I.1, pg. 86. Domestic
from Sao Paulo. Photocopy available.
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: The Americas
1750-1988, table G2, pages 637-8 (commercial deposits) and table G3, pages 6456. Photocopy available.
o 1913-1999: Mitchell. Note that for 1999, both values are from 1993.
Source #2: IMF, International Financial Statistics, Photocopies available for
all unless noted otherwise:
o 1913-1929: data not available
o 1938-50: IFS, Jan 1954 issue, pg. 54. Photocopy Available.
o 1960: IFS, March 1962 issue, pg. 62. Photocopy Available.
o 1970: IFS, Oct 1974 issue, pg. 66. Photo NOT Avail.
o 1980: IFS, Feb 1983 issue, pg. 96. Photo NOT Avail.
o 1990: Datum not available.
o 1999: IFS, April 1999 issue, pg. 158. Photo NOT Avail.
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 202-203. Note that the datum for 1999 is from 1994. Values are
in 1990 Geary-Khami dollars. Photocopy available.
 Population:
o 1913-1990: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 112-113. Photocopy available.
o 1999: IMF, International Financial Statistics, April 1999 issue, pg 162.
Photocopy available.
 National Accounts:
11
o 1913-1938: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table J1, page 763-4. The values for GDP are
adjusted to billions for comparison purposes. Photocopy available.
o 1950-1970: Fundaçao Instituto Brasileiro de Geografia e estatistica.
Estatisticas Historicas do Brasil 1550-1985, 1987, table 4.3, lines 1.1 and
1.6, pages 95-97. Value adjusted to billions. Photocopy available.
o 1980: IMF, International Financial Statistics, March 1983 issue, pg. 98.
o 1990: IMF, International Financial Statistics, June 1992 issue, pg. 122.
o 1998: IMF, International Financial Statistics, April 1999 issue
o Alternative sources:
 1913-1950: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table J1, page 763-4. Photocopy available.
Canada:
 Stock Exchange:
o 1913: Our calculation from stock listings obtained in all stock exchanges.
from Annual Financial Review 1914. We exclude five companies that are
obviously foreign.
o 1929: Data not available.
o 1938: Bank of Canada Statistical Summary, December 1938 issue, table
IV, page 195. Datum from November 1938. Includes Toronto and
Montreal. Montreal has the larger market capitalization. Photo. Available.
o 1950: Bourse de Montreal. Monthly Review – Montreal Stock Exchange,
Montreal Curb Market, Jan 31, 1951 issue, table: statistical summary.
Photocopy available.
o 1960-1970: Toronto Stock Exchange Annual Review of the Canadian
Equity Market and Economy: 1970, February 1971 issue, Table: ten year
summary, pg. 26-27. Note that datum for 1960 is from 1961. Photocopy
available.
o 1980: FIBV Statistics 1980 (issue of 1980), table I.A., pg. 6 of fax.
Toronto only. Photocopy available.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., pg. 13. Toronto
and Montreal included. Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., pg. 88. Includes
Toronto and the Canadian Venture Exchange (Vancouver and Montreal).
Photocopy available.
 Issues:
o 1913-1990: Data not available.
o 1913: Our calculation from stock listing obtained from Annual Financial
Review 1914.
o 1929: Statistischen Reichsamt, Statistisches Jahrbuch für das Deutsche
Reich 1936, Berlin 1936, table 21, pg. 242. Photocopy available.
o 1938-50: Urquhart, M.C. Historical Statistics of Canada, 1965, table
H661-683, pg. 280. Photocopy available.
12
o 1960: Equity issues in Hatch, James E. Canadian Stocks, Bonds, Bills, and
Inflation: 1950-1983, 1985, pg. 26. Photocopy available. Bond issues in
Statistical Summary Bank of Canada Financial Supplement, 1958, pg. 76.
Photocopies included
o 1970-80: Equity issues in Hatch, James E. Canadian Stocks, Bonds, Bills,
and Inflation: 1950-1983, 1985, pg. 26. Photocopy available.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A., pg. 27 (equity
issues). Photocopy available. No bond issues available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.8.A., pg. 109 (equity
issues). Photocopy available. No bond issues available.
 # Companies:
o 1913-1938: Data not available.
o 1950-1970: Toronto Stock Exchange Annual Review of the Canadian
Equity Market and Economy: 1970, February 1971 issue, Table: ten year
summary, pg. 24-25. Note that datum for 1960 is from 1961. Photocopy
available.
o 1980: FIBV Statistics 1980 (issue of 1980), table 2, pg. 3. Total Toronto
and Montreal. Photocopy available.
o 1990: IFC, Emerging Stock Markets Factbook, 1996., pg. 23. Photocopy
available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.1, pg. 86. Photo. Avail.
 Deposits:
o 1913-1999: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table G2, pgs. 633-34 (commercial deposits) and
table G3, pgs. 642-43 (savings deposits). No data available for savings
deposits 1980-1999. Photocopies available.
o Alternative sources:
 1950: IFS International Financial Statistics, Jan 1954 issue, pg. 60,
lines 52b and 54. Photocopy available.
 1960: IFS International Financial Statistics, March 1962 issue, pg.
70, lines 45a, 46, and 47. Photocopy available.
 1970: IFS International Financial Statistics, Oct. 1974 issue, pg.
76, lines 24 and 25. Photocopy available.
 1980: IFS International Financial Statistics, Feb. 1983 issue, pg.
111, lines 24 and 25. Photocopy available.
 1990: IFS International Financial Statistics, June 1992 issue, pg.
134, lines 24 and 25.
 1999: IFS International Financial Statistics, April 1999 issue, lines
24 and 25. Photocopy available.
 Per capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy: 18201992, 1995, table D-1a, pgs. 194-95. Note that the datum for 1999 is from
1994. Photocopy available.
13
 Population:
o 1913-1990: Maddison, Angus. Monitoring the World Economy: 18201992, 1995, table A-3a, pgs. 104-05. Note that the datum for 1999 is from
1994. Photocopy available.
o 1998: IMF, International Financial Statistics, April 1999 issue. Photocopy
available.
 National Accounts:
o 1913-1990: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table J1, pgs. 750-51, 767. Photocopies available.
o 1999: IMF, International Financial Statistics, April 1999 issue. Photocopy
available.
o Alternative sources: Calculations and estimations.
Chile:
 Stock Exchange:
o
o
o
o
o
1913: Manual de la Bolsa de Santiago, 1913. Photocopy available.
1929-1950: Data not available.
1960: Historical Statistics of Chile, Vol.4, pg.342.
1970: Historical Statistics of Chile, Vol.4, pg.342.
1980: IFC, Emerging Stock Markets Factbook 1989, pg 78. Photocopy
available.
o 1990: IFC, Emerging Stock Markets Factbook 1996, pg 137. Photocopy
available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., pg. 88. Photocopy
available.
 Turnover:
o 1913-1900: data not available
o 1913: Historical Statistics of Chile, Vol: 5, pg: 257 and 259.
o 1929: Historical Statistics of Chile, Vol: 4, pg:340-341. Alternative
Source: Statistischen Reichsamt, Statistisches Jahrbuch für das Deutsche
Reich 1933, Berlin 1933, table 190, pg. 192. (The original figure was a
monthly average, so multiplied by 12) Photocopy available.
 Issues:
o 1913-1950: data not available
o 1960-1980: Historical Statistics of Chile, Vol.4, pg.356.
o 1990: Datum not available.
o 1999: FIBV Statistics 1999 (issue of 1999): equity issues on table I.8.A.,
pg. 109, and bond issues on table II.5.A., pg. 126. Both photoc. Available.
14
 # Companies:
o 1913: data not available
o 1900: Couyoumdjian, Juan Ricardo , Historia de la Bolsa de Comericio de
Santiago: 1893-1993: un siglo del mercado de valores en Chile.1993.
o 1913: Manual de la Bolsa de Santiago, 1913. Photo. Available.
o 1929-1950: Data not available.
o 1960: Historical Statistics of Chile, Vol.4
o 1970: Historical Statistics of Chile, Vol.4
o 1980: IFC, Emerging Markets Factbook 1989, pg. 13. Photo. Available.
o 1990: IFC, Emerging Markets Factbook 1996, pg. 137. Photo. Available
o 1999: FIBV Statistics 1999 (issue of 1999), table I.1, pg. 86. Photo. Avail.
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table G2, pages 637-8 (commercial deposits) and table G3,
pages 645-6. Photocopy available.
o 1913: data not available
o 1900-1980: Mitchell
o 1990-99:
Source #2: IMF, International Financial Statistics, Photocopies available for all
unless noted otherwise:
o 1913-1929: data not available
o 1938-50: IFS, Jan 1954 issue, pg. 68.
o 1960: IFS, Jan 1962 issue, pg. 78. Photo NOT Avail.
o 1970: IFS, Nov 1974 issue, pg. 92. Photo NOT Avail.
o 1980: IFS, Feb 1983 issue, pg. 118.
o 1990: IFS, June 1992 issue, pg. 148. Photo NOT Avail.
o 1999: IFS, April 1999 issue.
 Per Capita Income :
o 1913: Datum not available
o 1900-1990: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 202-203. Values are in 1990 Geary-Khami dollars. Photocopy
available.
o 1999: Datum not available.
 Population
o 1913-1990: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 112-113. Photocopy available.
o 1999: IMF, International Financial Statistics, April 1999 issue. Photocopy
available.
 National Accounts (summary) :
o 1913: Datum not available
15
o 1900:-1929: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table J1, pages 764. Photocopy available. Historical
Statistics of Chile, Vol.4 for CPI used to deflate the real GDP.
o 1938-1990: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table J1, pages 764. Photocopy available.
o 1999: IMF, International Financial Statistics, April 1999 issue. Photocopy
available.
Denmark:
 Stock Exchange:

o 1913-1970: Parum, Claus. Det danske organiserede aktiemarked i historisk
belysning, Working Paper 97-6 from Institut For Finansiering at
Copenhagen Business School, pp. 72-81. Note that the figure for 1913 is
that from 1922, which is equivalent to that of 1917. Copy available.
o 1980: FIBV Statistics 1980 (issue of 1980), table I.A, pg 6 of fax.
Photocopy available.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A, pg 13.Photo Avail.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A, pg 88.Photo Avail.
o Alternative sources: 1970: OECD Financial Statistics, 1974, tome I, table
I.C.2/05, pg. 92. Photocopy available.
 # Companies:
o 1913-1900: data not available
o 1913-1970: Parum, Claus. Det danske organiserede aktiemarked i
historisk belysning, Working Paper 97-6 from Institut For Finansiering at
Copenhagen Business School, pp. 72-81. Note that the figure for 1913 is
that from 1922, which is equivalent to that of 1917. Copy available.
o 1980: FIBV Statistics 1980 (issue of 1980), table 2, pg. 3 of FAX.
Domestic companies only. Photocopy available.
o 1990: IFC, Emerging Stock Markets Factbook 1996, pg. 23. Domestic
companies only. Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.1.A, pg. 86. Domestic
companies only. Photocopy available.
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table G2, pages 773-779 (commercial deposits) and table G3,
pages 780-790. Photocopy available.
o 1900-1980: Mitchell
o 1990-99: Savings deposits not available.
16
Source #2: IMF, International Financial Statistics, Photocopies available for all
unless noted otherwise:
o 1913-1929: data not available
o 1938-50: IFS, Jan 1954 issue, pg. 76. Photo NOT Avail.
o 1960: IFS, Jan 1962 issue, pg. 98. Photo NOT Avail.
o 1970: IFS, Nov. 1974 issue, pg. 1123. Photo NOT Avail.
o 1980: IFS, Feb 1983 issue, pg. 136. Photo NOT Avail.
o 1990: IFS, June 1992 issue, pg. 180. Photo NOT Avail.
o 1999: IFS, April 1999 issue, pg. 250. Photo NOT Avail.
 Per Capita Income :
o 1900-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 194-195. Values are in 1990 Geary-Khami dollars. Photocopy
available. Note that the datum for 1999 is from 1994.
 Population
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 112-113. Datum for 1999 is from 1994. Photocopy Available.
 National Accounts (summary) :
o 1913-1938: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988, table J1, pages 889-897. Photocopy available.
o 1950: IMF, International Financial Statistics, Jan 1954 issue, pg. 78.
o 1960: IMF, International Financial Statistics, Jan 1962 issue, pg. 100.
o 1970: IMF, International Financial Statistics, Nov 1974 issue, pg. 114.
o 1980: IMF, International Financial Statistics, Jan 1983 issue, pg. 138.
o 1990: IMF, International Financial Statistics, June 1992 issue, pg. 182.
o 1999: IMF, International Financial Statistics, April 1999 issue.
Egypt:
 Stock Exchange:
o
o
o
o
o
o
1913-1929:
1938-1950:
1970: Data not available.
1980: IFC, Emerging Stock Markets Database 1989, pg 149. Photo. Avail.
1990: IFC, Emerging Stock Markets Database 1996, pg 243. Photo. Avail.
1999: FIBV Statistics 1999, table V.3 Online version.Photocopy available
 Issues:
o 1913-1990: No data available.
o 1999: FIBV Statistics 1999, Table V.5.A Online version. Photo. Available
 # Companies:
17
o 1913-1929:
o 1938-1950: No data available.
o 1960-1970: El Sawfa Brokers’ Web Page “History of the Egyptian Capital
Market” at http://www.safwa.com/capital.htm. PRINT-OUT Available.
o 1980: No datum available.
o 1990: IFC, Emerging Stock Markets Factbook 1996, pg 243. Photo Avail.
o 1999: FIBV Statistics 1999, table V.1. Online version. Photo. available
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1993, table G2 (commercial deposits) and table G3. Photo. available.
o 1900-1999: Mitchell.
Source #2: IMF, International Financial Statistics, Photocopies available for all
unless noted otherwise:
o 1913-1938: data not available
o 1950: IFS, Jan 1954 issue, pg. 84. Photocopy NOT Available.
o 1960: IFS, March 1962 issue, pg. 108. Photocopy NOT Available.
o 1970: IFS, Oct 1974 issue, pg. 124. Photocopy NOT Available.
o 1980: IFS, Jan 1986 issue, pg. 182. Photo NOT Avail.
o 1990: IFS, June 1992 issue, pg. 196. Photo NOT Avail.
o 1999: IFS, April 1999 issue, pg. 272. Photo NOT Avail.
 Per Capita Income :
o 1900-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 194-195. Values are in 1990 Geary-Khami dollars. Photocopy
available. Note that the datum for 1999 is from 1994.
 Population
o 1913-1999: Two sources: Mitchell, B.R. International Historical
Statistics: Africa, Asia, & Oceania, 1993 (with extrapolations based on
data) and Maddison, Angus. Monitoring the World Economy 1820-1992,
pgs. 112-113. Datum for 1999 is from 1994. Photocopy Available.
 National Accounts (summary) :
o 1913-1900: No data available.
o 1913: Tignor, Robert State, Private Enterprise, and Economic Change In
Egypt, 1918-1952, 1984, pg. 25. Photocopy available.
o 1929-1938: No data available.
o 1950-1980: Mitchell, B.R. International Historical Statistics: Africa, Asia,
and Oceania 1750-1988, table J1, pages 990. Photocopy available.
o 1990: IMF, International Financial Statistics, June 1992 issue, pg. 182.
 1999: IMF, International Financial Statistics, April 1999 issue.
France:
18
 Stock Exchange:
o 1913-1913: Bouvier, Jean, et al. Historie economique et sociale de la
France, tome IV, vol.1, pg. 196. Photocopy available.
o 1929: Datum not available.
o 1938-1960: Institut National de la Statistique et des Etudes Economiques
Annuaire Statistique de la France 1966, n. 14, pp. 535-538. Photocopy
available.
o 1970: OECD, Financial Statistics (issue of 1982, part 2, book 1), table
22.B/08, page 72. Photocopy available.
o 1980: SBF-Bourse de Paris Service Statistique et Indices de Marches,
Table: Capitalisation boursieres et valeurs nominales (pg. 250), pg. 3 of
fax. Photocopy available.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A, pg 13.Photo Avail.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A, pg 88.Photo Avail.
 Issues:
o 1913: data not available
o 1900-1960: Institut National de la Statistique et des Etudes Economiques
Annuaire Statistique de la France 1966, n. 14, pg. 532. Photocopy
available.
o 1970: Institut National de la Statistique et de Etudes Economiques
Annuaire Statistique de la France 1973, 1973, pg 622. Photocopy available
o 1980: FIBV Statistics 1982 (issue of 1983). Page 10 of FAX. Photocopy
available.
o 1990: FIBV Statistics 1990 (issue of). Equity issued: table I.8.A, pg 27.
Bonds issued: no data available. Both photocopies available.
o 1999: FIBV Statistics 1999 (issue of). Equity issued: table I.8.A, pg 109.
Bonds issued: table II.5.Apg 126. Domestic private bonds only. Both
photocopies available.
o Alternative sources:
 1929: Statistischen Reichsamt, Statistisches Jahrbuch für das
Deutsche Reich 1933, Berlin 1933, table 190, pg. 193. Photocopy
available.
 1938: Statistischen Reichsamt, Statistisches Jahrbuch für das
Deutsche Reich 1941/42, Berlin 1942, table 20, pg. 285.
Photocopy available.
 # Companies:
o 1913-1913:
o 1929: Datum not available.
o 1938-1960: Institut National de la Statistique et des Etudes Economiques
Annuaire Statistique de la France 1966, n. II.A, pg. 535-8. Photocopy
available.
o 1970: Bourse de valeurs dans la C.E.E., pg. 105. Photocopy available.
19
o 1980-1998: SBF-Bourse de Paris Service Statistique et Indices de
Marches, Table: Capitalisation boursieres et valeurs nominales (pg. 250),
pg. 4 of fax. Photocopy available. (FAX)
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1993, table G2 (commercial deposits) and table G3. Photo. available.
o 1900-1999: Mitchell. Note that for 1999, both values are from 1993.
Source #2: IMF, International Financial Statistics, Photocopies available for all
unless noted otherwise:
o 1913-1929: data not available
o 1938-50: IFS, Jan 1954 issue, pg. 92. Photocopy Available.
o 1960: IFS, March 1962 issue, pg. 122. Photocopy Available.
o 1970: IFS, Oct 1974 issue, pg. 140. Photocopy Available.
o 1980: IFS, Feb 1983 issue, pg. 166. Photo NOT Avail.
o 1990: IFS, June 1992 issue, pg. 214. Photo NOT Avail.
o 1999: IFS, April 1999 issue, pg. 300. Photo NOT Avail.
 Per Capita Income :
o 1900-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 194-195. Values are in 1990 Geary-Khami dollars. Photocopy
available. Note that the datum for 1999 is from 1994.
 Population
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 112-113. Datum for 1999 is from 1994. Photocopy Available.
 National Accounts :
o 1913-1938: NBER Macrohistory Database at
http://www.nber.org/databases/macrohistory
o 1950: Institut National de la Statistique et des Etudes Economiques
Annuaire Statistique de la France 1966, n. 14, pp. 548. Photocopy
available.
o 1960: IMF, International Financial Statistics, Jan 1962 issue, pg. 124.
o 1970: IMF, International Financial Statistics, Nov 1974 issue, pg. 142.
o 1980: IMF, International Financial Statistics, Jan 1983 issue, pg. 168.
o 1990: IMF, International Financial Statistics, June 1992 issue, pg. 220.
o 1999: IMF, International Financial Statistics, April 1999 issue.
Germany:
 Stock Exchange:
o 1913: Data extracted from Spreadsheet “German Stock Exchange 1883”.
Source: Handbook. Datum for Berlin 1883 only.
20
o 1900: IIS, Bulletin de l’Institut International de Statistique, 1911, vol. 19,
part II, pg. 240. Datum from Berlin 1903. Photocopy available.
o 1913: We input the stock price information for the Berlin Stock Exchange
in 1913 from Saling's börsen-jahrbuch (1914). The total market
capitalization of domestic companies (we exclude the ones obviously
foreign) was 18,957 million marks, with a nominal capitalization of
12,065 million marks. Gommel, Rainer, et al. Deutsche Börsengeschichte,
table 2, pg. 215 reports that the nominal value of all shares traded in
Germany is 16.0 billions Marks. This datum is consistent also with
Gunzert, Benning and Veesenmayer: Effektenborse und Volkswirtschaft
(1929), who report the total nominal capitalization of German Stock
Exchanges at 14.7 billions Marks in 1912. If we apply the same market-tobook ratio we have found for Berlin we arrive at the estimates of 25,280
million marks. This estimate is consistent with the relative importance of
the Berlin Stock Exchange contained in Taeuber, Die Borsen der Welt,
1911, which estimates the Berlin Stock Exchange in 1905 accounts for
47% of all the nominal capitalization of all the German Stock Exchanges.
o 1929: We obtain the nominal value of all shares traded in Germany from
Gommel, Rainer, et al. Deutsche Börsengeschichte, table 2, pg. 215. We
convert to a market value using the market-to-book ratio for the Berlin
Stock Exchange contained in Statistisches Jahrbuch für das Deutsche
Reich Berlin 1936, table 3.b, pg. 390.
o 1938: Nominal value of all shares traded in Germany from Gommel,
Rainer, et al. Deutsche Börsengeschichte, table 2, pg. 215.
o 1950-1970: Deutsche Bundesbank Deutsches Geld- und Bankwesen in
Zahlen 1876-1975, table GII part 1.10, page 306. Photocopy available.
o 1980: FIBV Statistics 1980 (issue of 1980), table I.3.A, pg 6 of FAX.
Photocopy Available.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A, pg 13.Photo Avail.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A, pg 88.Photo Avail.
o Alternative Sources:
 1910: IIS, Bulletin de l’Institut International de Statistique, 1911,
vol. 19, part II, pg. 240. Datum from Berlin 1903. Photocopy
available.
 1929: Statistischen Reichsamt, Statistisches Jahrbuch für das
Deutsche Reich 1936, Berlin 1936, table 3.b, pg. 390. Photocopy
available.
 Issues:
o 1913-1913: Data from Spreadsheet “Capital Raised in Germany” from
Deutscher Oekonomist. Also in Deutsche Bundesbank Deutsches Geldund Bankwesen in Zahlen 1876-1975, table GI part 1.01, page 290.
Photocopy available.
o 1929-1938: Gall, Lothar, et al. The Deutsche Bank: 1870-1995, 1995, pg.
286. Photocopy available.
21
o 1950: Deutsche Bundesbank Deutsches Geld- und Bankwesen in Zahlen
1876-1975, table GII part 1.01, page 306. Photocopy available.
o 1960: OECD Capital Market Study, pg. 292-295. Photocopy available.
Photocopy available.
o 1970: Samuels, Company Finance in Europe, 1975, pg. 73. Photo Avail.
o 1980: German Stock Exchanges Annual Report 1992, pg. 155-157.
Photocopies available.
o 1990: FIBV Statistics 1990 (issue of). Equity issued: table I.8.A, pg 27.
Bonds issued: table II.6.Apg 42. Both photocopies available.
o 1999: FIBV Statistics 1999 (issue of). Equity issued: table I.8.A, pg 109.
Bonds issued: table II.5.Apg 126. Domestic private bonds only. Both
photocopies available.
o Alternative sources:
 1929: Statistischen Reichsamt, Statistisches Jahrbuch für das
Deutsche Reich 1933, Berlin 1933, table 190, pg. 193. Photocopy
available.
 1938: Statistischen Reichsamt, Statistisches Jahrbuch für das
Deutsche Reich 1941/42, Berlin 1942, table 20, pg. 285.
Photocopy available.
 # Companies:
o 1913: Data extracted from Spreadsheet “German Stock Exchange 1883”.
Source: Handbook. Datum for Berlin 1883 only.
o 1900: Datum not available.
o 1913: Our calculations for the Berlin Stock Exchange in 1913 from
Saling's börsen-jahrbuch (1914) gives us 1054 domestic companies.
Taeuber, Die Borsen der Welt, (1911) reports 1058 companies listed in
Berlin and 1933 in the entire Germany. Since we do not know the exact
amount of cross-listing we conservatively accept the Berlin number, which
is clearly downward biased.
o 1929: Statistischen Reichsamt, Statistisches Jahrbuch für das Deutsche
Reich 1936, Berlin 1936, table 3b, pg. 390. Photocopy available.
o 1938-1970: Deutsche Bundesbank Deutsches Geld- und Bankwesen in
Zahlen 1876-1975, pp 294 (1938), 306 (1953-70). Photocopy available.
o 1980: FIBV Statistics 1980 (issue of 1980), table 2, pg. 3 of FAX.
Photocopy available.
o 1990: IFC, Emerging Stock Markets Factbook 1996, pg 23. Photo Avail.
o 1999: FIBV Statistics of 1999 (issue of 1999), table I.1, pg. 86. Photocopy
Available.
 Deposits:
Source #1: Mitchell, B.R. International Historical Statistics: Europe 17501993, table G2 (commercial deposits) and table G3. Photo. available.
o 1900-1999: Mitchell. Note that for 1999, both values are from 1993.
22
Source #2: IMF, International Financial Statistics, Photocopies available for all
unless noted otherwise:
o 1913-1929: data not available
o 1950: IFS, Jan 1954 issue, pg. 94. Photocopy Available.
o 1960: IFS, March 1962 issue, pg. 126. Photocopy Available.
o 1970: IFS, Oct 1974 issue, pg. 146. Photocopy Available.
o 1980: IFS, Feb 1983 issue, pg. 173. Photo NOT Avail.
o 1990: IFS, June 1992 issue, pg. 224. Photo NOT Avail.
o 1999: IFS, April 1999 issue, pg. 312. Photo NOT Avail.
 Per Capita Income :
o 1900-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 194-195. Values are in 1990 Geary-Khami dollars. Photocopy
available. Note that the datum for 1999 is from 1994.
 Population:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 112-113. Datum for 1999 is from 1994. Photocopy Available.
o Alternative Sources:
 National Accounts:
o 1913-1938: NBER Macrohistory Database at
http://www.nber.org/databases/macrohistory
o 1950: IMF, International Financial Statistics, Jan 1962 issue, pg. 94.
o 1960: IMF, International Financial Statistics, Jan 1962 issue, pg. 129.
o 1970: IMF, International Financial Statistics, Nov 1974 issue, pg. 148.
o 1980: IMF, International Financial Statistics, Jan 1983 issue, pg. 176.
o 1990: IMF, International Financial Statistics, June 1992 issue, pg. 234.
o 1999: IMF, International Financial Statistics, April 1999 issue, pg 316.
India:
 Stock Exchange:
o 1913: Estimated value using data from 1914-15 on companies and cap
(found under #cos), obtained from: Report on the Regulation of the Stock
Market in India page 38. Alternative source: 1920 datum from SS. Narta,
Capital Issues in India.
o 1929: Estimated value using data from 1929-30 on companies and cap
(found under #cos), obtained from: Report on the Regulation of the Stock
Market in India page 38. Alternative source: 1933 datum from SS. Narta,
23
o
o
o
o
Capital Issues in India, page 68. Alternative Source: International Abstract
of Economic Statistics 1931-36 page 128.
1938: Estimated value using data from 1937-38 on companies and cap
(found under #cos), obtained from: Report on the Regulation of the Stock
Market in India page 38. Alternative source: 1933 datum from SS. Narta,
Capital Issues in India. Alternative Source: International Abstract of
Economic Statistics 1931-36 page 128.
1950: 1980: Narta, Capital Issues in India page 68.
1990: Emerging Markets Data Base
1999: FIBV Statistics 1999 for Mumbai, page 141. Alternative Statistic is
present on Emerging Market Factbook, 1998, page 20 in US$.
 Issues:
o 1913-1960: data not available.
o 1970: 1980: S.S. Narta, page 136 and 139.
o 1990: n/a
o 1999: FIBV Statistics 1999 (issue of 1999).
 # Companies:
o 1913: 1900: data not available
o 1913: 1938 Estimated value using data from 1914-15 on companies and
cap (found under #cos), obtained from: Report on the Regulation of the
Stock Market in India page 38.
o 1950: 1970: data not available
o 1980: Emerging Market Factbook.
o 1990: Emerging Market Data Base
o 1999: FIBV Statistics 1999, p139.
 Deposits:
o 1913: 1938: Mitchell, page 830 and 833.
o 1950: IMF, Int’l Financial Statistics, March 1954, pg. 104, lines 52 and
53.
o 1960: IMF, Int’l Financial Statistics, January 1962, pg. 150, lines 42a and
42b.
o 1970: IMF, Int’l Financial Statistics, October 1974, pg. 178, lines 24 and
25.
o 1980: IMF, Int’l Financial Statistics, March 1983, pg. 50, lines 24 and 25.
o 1990: IMF, Int’l Financial Statistics, June 1992, lines 24 and 25.
o 1999: IMF, Int’l Financial Statistics, April 1999, lines 24, 25.
 Per Capita GDP:
o 1913-1998: Maddison, Angus. Monitoring the World Economy 18291992. Table D-1e page 204. The data are in 1990 Geary-Khamis Dollars.
Photocopy available (Mitchell binder).
 Population:
24
o 1913-1990: Maddison, Angus. Monitoring the World Economy 18291992". Table A-3a, pg. 114-115. The data are in 1990 Geary-Khamis
Dollars. Photocopy available (Mitchell binder).
o 1998: (1997 datum) IMF, Int’l Financial Statistics, April 1999, p.376, line
99z.
 National Accounts:
o 1900-1938: Mitchell, B.R. International Historical Statistics, Africa, Asia
and Oceania, page 1003. Photocopy available (Mitchell binder).
o 1950: 1960: fax in india folder.
o 1970: IMF, Int’l Financial Statistics, Dec. 1974, lines 99b, 93e
o 1980: IMF, Int’l Financial Statistics, Feb 1983, lines 99b, 93e
o 1990: IMF, Int’l Financial Statistics, June 1992, lines 99b, 93e
o 1999: IMF, Int’l Financial Statistics, April 1999, lines 99b, 93e
Italy:
 Stock Exchange:
o 1913: Credito Italiano.
o 1929-1950: Indici e Dati, Mediobanca.
o 1960: 1980: Facts and Figures on the Italian Stock Exchange, 1997, page
61.
o 1990: FIBV Statistics 1990 (issue of 1990), Table I.3.A., pg. 13. Photoc.
Available.
o 1999: FIBV Statistics 1999 (issue of 1999), Table I.3.A., pg. 88.
 Issues:
o 1913: Data not available.
o 1913: 1950: Data Available but source not listed.
o 1960: 1970: Mediobanca Indice e Dati 58-71 pag 453
o 1980: Facts and Figures on the Italian Stock Exchange, 1997, page74.
o 1990: FIBV Statistics 1990 (issue of 1990). Tables I.8A and II.6.A, pgs.
27, 42.
o 1999: FIBV Statistics 1999 (issue of 1999). Page 109, 126; for bonds, only
1998.
o Alternative sources: 1929, Statistisches Jahrbuch 1933; 1938:
Statistisches Jahrbuch 1942
 # Companies:
o 1913-1900: n/a
o 1913: Credito Italiano.
o 1929: Bachi
o 1938: not listed, probably mediobanca.
o 1960: 1990: Fact Book 1997, page 61.
25
o 1999: FIBV Statistics 1999 (issue of 1999), table I.1, pg. 86. Domestic
companies only.
 Deposits:
o 1913-1938: Mitchell, B.R. International Historical Statistics: Europe 17501988, pgs. 774, 776 (Commercial) and 782, 786 (Deposits).
o 1950: IMF, International Financial Statistics, Jan. 1954, p116, lines 43 and
45.
o 1960: IMF, International Financial Statistics, Jan. 1962, p170, lines 24
and 25.
o 1970: IMF, International Financial Statistics, Oct. 1974, p202, lines 24
and 25.
o 1980: IMF, International Financial Statistics, Jan. 1983, p230, lines 24
and 25.
o 1990: IMF, International Financial Statistics, book not found.
o 1998: IMF, International Financial Statistics, April 1999 issue, pg. 388,
lines 24+25.
 Per Capita:
o 1913-1998: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 194-195. Note that the datum for 1999 is from 1994.
 Population:
o 1913-1990: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 104-105.
o 1998: IMF, International Financial Statistics, April 1999 issue, pg. 392,
line 99z.
 National Accounts:
o 1913-1938: Mitchell, B.R. International Historical Statistics: Europe 17501988, pg. 895.
o 1950: Noted as IMF, International Financial Statistics, probably from
Mitchell…
o 1960: IMF, International Financial Statistics, Jan. 1962, p172, lines 91
and 94.
o 1970: IMF, International Financial Statistics, Oct. 1974, p204, lines 99b
and 93e.
o 1980: IMF, International Financial Statistics, Jan. 1983, p232, lines 99b
and 93e.
o 1990: IMF, International Financial Statistics, June 1992, lines 99b 93e
book not found.
o 1998: IMF, International Financial Statistics, April 1999 issue, pg. 392,
lines 99b and 93e.
Japan:
26
 Stock Exchange:
o 1913-1929: data source not given.
o 1938-1980: Tokyo Stock Exchange Fact Book, not found in office.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88.
Photocopy available.
 Issues:
o 1913-1900: n/a
o 1913: data source not specified.
o 1929: (a) Source: Japan Economic Federation, The Capital Market of
Japan (May 1940), p.45; and Bank of japan's Economic Statistics of Japan,
various Issues. I think these figures includes capital raised by all
corporations.
o 1938: (a) Source: Japan Economic Federation, The Capital Market of
Japan (May 1940), p.45; and Bank of japan's Economic Statistics of Japan,
various Issues. I think these figures includes capital raised by all
corporations.
o 1950: Data not available.
o 1960: 1980: TSE fact book.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A., page 27 (equity
issues), and table II.6.A., page 42 (bond issues). Equity issues include both
already existing and newly listed companies. Photocopy availalble.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.8.A., page 109 (equity
issues), and table II.5.A., page 126 (bond issues). Equity issues include
both already existing and newly listed companies. Photocopy available.
 # Companies:
o 1913: Data not available.
o 1900-1929: data source not specified.
o 1938: TSE 1938.
o 1950-1980: TSE page 101.
o 1990: Emerging Market Factbook.
o 1999: Estimate from: FIBV Statistics 1999 (issue of 1999), table I.1, page
86 and TSE.
 Deposits:
o 1913-1980: Mitchell, 830-1, 834.
o 1990: IFS
o 1999: IFS, March 1999, page 398, line 24 and 25.
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 196-197. Note that the datum for 1999 is from 1994.
27
 Population:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 106-107. Note that the datum for 1999 is from 1994.
o 1990: IMF, Int’l Financial Statistics, June 1992.
o 1998: IMF, Int’l Financial Statistics, April 1999, pg. 140, line 99z.
 National Accounts:
o 1913-1938: NBER Macrohistory Database at
http://www.nber.org/databases/macrohistory
o 1950: Noted as IMF, International Financial Statistics, probably from
Mitchell…
o 1960: IMF, International Financial Statistics, Jan. 1962, p172, lines 91
and 94.
o 1970: IMF, International Financial Statistics, Oct. 1974, p204, lines 99b
and 93e.
o 1980: IMF, International Financial Statistics, Jan. 1983, p232, lines 99b
and 93e.
o 1990: IMF, International Financial Statistics, June 1992, lines 99b 93e
book not found.
o 1998: IMF, International Financial Statistics, April 1999 issue, pg. 392,
lines 99b and 93e.
Netherlands:
 Stock Exchange:
o
o
o
o
o
o
o
1913: Roger Laeven’s data
1929: Data not available.
1938 1960: Spreadsheet.
1970: Equity Markets Europe.
1980: FIBV fax.
1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13.
1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88.
 Issues:
o 1913: Industrie Kapital Markt . Pag 7
o 1929: Amsterdam Bank Quarterly review. Alternative: Statistisches
Jahrbuch 1933.
o 1938: Statistisches Jahrbuch 1942
o 1950 1980: separate spreadsheet (?)
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A, page 27.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.8.A. ,page 109 (equity
issues) and table II.5.A., page 126 (bond issues). Photocopy available.
28
 # Companies:
o 1913: Roger Laeven’s data.
o 1929-1950: n/a
o 1960: Roger Laeven’s data.
o 1970: Roger Laeven’s data.
o 1980: FIBV fax.
o 1990: Emerging markets database.
o 1999: FIBV Statistics 1999 (issue of 1999), table of I.1, pg. 86.
o
 Deposits:
o 1913-1938: From Mitchell, . International Historical Statistics: Europe
1750-1988, pages 775,777, 780,782, 786, 789.
o 1950: IFS, Jan. 1954, p124, line 52-53
o 1960: IFS, Jan 1962, p182, 47a and 47b.
o 1970: IFS, Oct. 1974, p262, line 34, 35.
o 1980: IFS, Jan 1983, p296, line 24 and 25.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, page 536, lines
25 and 25, 1998 datum. Photocopy available.
o Alternative sources:
 1950-1990: Mitchell, B.R. International Historical Statistics:
Europe 1750-1988. Photocopy available.
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 196,197. Note that the datum for 1999 is from 1994. Values are
in 1990 Geary-Khami dollars. Photocopy available.
 Population:
o 1913-1938: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 106-107. Photocopy available.
o 1999: IMF, International Financial Statistics, April 1999 issue, pg 538.
Photocopy available.
 National Accounts:
o 1913-1938: Mitchell, B.R. International Historical Statistics: Europe 17501988, p.895. GFCF for 1913 estimated.
o 1950: IFS, Jan. 1954, p126, line 91 and 94
o 1960: IFS, Jan 1962, p183, 91 and 94.
o 1970: IFS, Oct. 1974, p264, line 99b and 93e.
o 1980: IFS, Jan 1983, p298, line 99b and 93e.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, page 536, lines
99b and 93e, 1998 datum.
Norway:
29
 Stock Exchange:
o 1913-1950: Haandbok over Norske Obligationer og Aktier, also called the
Kierulf Handbook of Norwegian bonds and stocks. The book lists each
listed firm and bond issuer and provides information regarding stock/bond
price on the 1st of January of every year (Amir Sasson)
o 1960-1999: Oslobørs Årsreport- The Oslo Stock Exchange Annual Report
for 1960, 1970, 1980, 1990,1999 (Amir Sasson).
 Issues:
o 1913-1900: Data not available.
o 1913-1950: Haandbok over Norske Obligationer og Aktier, also called the
Kierulf Handbook of Norwegian bonds and stocks. The book lists each
listed firm and bond issuer and provides information regarding stock/bond
price on the 1st of January of every year (Amir Sasson)
o 1960-1999: Oslobørs Årsreport- The Oslo Stock Exchange Annual Report
for 1960, 1970, 1980, 1990,1999 (Amir Sasson).
 # Companies:
o 1913-1999: Cyclical Patterns of Stock Market Introductions and IPOs on
the Oslo Stock Exchange 1881-1998 by Helland and Samuelsen
 Deposits:
o 1913-1990: Mitchell, B.R. International Historical Statistics: Europe 17501988,
o 1999: IFS International Financial Statistics, April 1999 issue, lines 24 and
25. Photocopy available.
 Per capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy: 18201992, 1995, table D-1a. Note that the datum for 1999 is from 1994.
Photocopy available.
 Population:
o 1913-1990: Maddison, Angus. Monitoring the World Economy: 18201992, 1995, table A-3a, pgs. 106-07. Note that the datum for 1999 is from
1994. Photocopy available.
o 1998: IMF, International Financial Statistics, April 1999 issue, line 99z.
Photocopy available.
 National Accounts:
o 1913-1960: Mitchell, B.R. International Historical StatisticsEurope 17501988. Photocopies available.
30
o 1970: IMF, IFS, October, 1974, page 280, line 99b and 99e.
o 1990: IMF, International Financial Statistics, June 1992 issue, lines 99b
and 99e.
o 1999: IMF, International Financial Statistics, April 1999 issue, lines 99b
and 99e. Photocopy available.
Russia:
 Stock Exchange:
o 1913: L. Zaitzeva. Birzha v Rosii. Moscow, 1993; and M. Bogolepov
(ed.). Russkii birzhevoi ezhegodnik. St. Petersburg, 1915.
o
o 1999: Emerging Market Fact Book.
 Issues:
o 1913: M. Bogolepov (ed.). Russkii birzhevoi ezhegodnik. St. Petersburg,
1915, p.174.
o
 # Companies:
o 1913: # of authorized companies: RUSCORP Database (description - in
T.C. Owen. RUSCORP: A Database of Corporations in the Russian Empire,
1700-1914. Baton Rouge, LA: T.C. Owen, 1992. Ann Arbor, MI: ICPSR, 1993)
# of exchange listed companies: M. Bogolepov (ed.). Russkii birzhevoi
ezhegodnik. St. Petersburg, 1915.
o 1999: Emerging Market Fact Book
 Deposits:
o 1913: . International Historical Statistics: Europe 1750-1988, page 783.
o 1999: IFS International Financial Statistics, April 1999 issue, page 618,
lines 24 and 25. Photocopy available.
 Population:
o 1913-1990: Maddison, Angus. Monitoring the World Economy: 18201992, 1995, table A-3a, pgs. 110-111. Note that the datum for 1999 is
from 1992 for USSR. Photocopy available.
o 1997: IMF, International Financial Statistics, April 1999 issue, line 99z.
Photocopy available.
 National Accounts:
o 1913:1938: Mitchell, B.R. International Historical Statistics Europe 17501988. Photocopies available.
31
o 1999: IMF, International Financial Statistics, April 1999 issue, lines 99b
and 99e, page 622. Photocopy available.
South Africa:
 Stock Exchange:
o 1913-1938: n/a
o 1950: The Story of the JSE.
o 1960-1980: "JSE Report" Graph
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., pg. 13. Photocopy
available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., pg. 88. Photocopy
available.
 Issues:
o 1913-1960: Data not available.
o 1970: JSE report 1972
o 1980: JSE report 1980
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A., pg. 27 (equity
issues). Photocopy available. No bond issues available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.8.A., pg. 109 (equity
issues). Photocopy available. No bond issues available.
 # Companies:
o 1913-1938: n/a
o 1950: JSE Report 1972 for year 1952
o 1960: JSE Report 1972 for year 1962
o 1970: JSE Report 1975 for year 1970
o 1980: SE Report 1980 for year 1980
o 1990: Emerging Market Fact Book
o 1999: FIBV, 1999, p.86.
 Deposits:
o 1929-1970: Mitchell, B.R. International Historical Statistics: Asia, Africa
and Oceania 1750-1988. Photocopy available.
o 1980: IMF International Financial Statistics, March 1983, lines 24 and 25.
Photocopy available.
o 1990: IMF International Financial Statistics, January 1992, issue, lines 24
and 25. Photocopy available.
o 1999: IMF International Financial Statistics, April 1999 issue, lines 24
and 25. Photocopy available.
 Per capita:
o 1913: Maddison, Angus. Monitoring the World Economy: 1820-1992
32
o 1950 - 1999: Maddison, Angus. Monitoring the World Economy: 18201992, 1995, table D-1a. Photocopy available.
 Population:
o 1900-1970: Mitchell, B.R. International Historical Statistics: Asia, Africa
and Oceania 1750-1988. Page 5. Photocopy available.
o 1980: IMF International Financial Statistics, March 1983, line 99z.
o 1990: IMF International Financial Statistics, January 1992 line 99z.
o 1999: IMF International Financial Statistics, April 1999 issue, line 99z.
 National Accounts:
o 1913-1970: Mitchell, B.R. International Historical Statistics: Asia, Africa
and Oceania. Photocopies available.
o 1980: IMF International Financial Statistics, March 1983, line 99b and
99e..
o 1990: IMF, International Financial Statistics, June 1992 issue, lines 99b
and 99e.
o 1999: IMF, International Financial Statistics, April 1999 issue, lines 99b
and 99e. Photocopy available.
Spain:
 Stock Exchange:
o 1980: FIBV fax.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88.
 Issues:
o 1913-1929: History of Madrid stock exchange (Only Madrid).
o 1938: n/a
o 1950: Statistical yearbook of Spain
o 1960 1970: La Bolsa en Espana
o 1980: FIBV fax.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A, page 27.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.8.A. ,page 109 (equity
issues) and table II.5.A., page 126 (bond issues). Photocopy available.
 # Companies:
o 1980: FIBV fax
o 1990: Emerging markets database. Also, FIBV 1999.
o 1999: FIBV Statistics 1999 (issue of 1999), table of I.1, pg. 86.
o
 Deposits:
33
o 1913-1980: From Mitchell, . International Historical Statistics: Europe
1750-1988. Photocopy available.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, page 680, lines
25 and 25, 1998 datum.
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 196,197. Note that the datum for 1999 is from 1994. Values are
in 1990 Geary-Khami dollars. Photocopy available.
 Population:
o 1913-1938: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 110-111. Photocopy available.
 National Accounts:
o 1913-1980: Mitchell, B.R. International Historical Statistics: Europe 17501988, p.896…some copies missing.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, page 684, lines
99b and 93e, 1998 datum.
Sweden:
 Stock Exchange:
o 1913: Own calculations from SSE semi-official list, van der Hagen &
Cederschiöld (1882): Svenska aktiebolag med begränsad anvarighet,
1848-1881 [Swedish Joint-Stock Companies, 1848-1881], Stockholm:
Beijer and Sammandrag av bankernas uppgiter [Compilation of
Commercial Bank Statistics], Norstedts.
o 1900: Source: Own calculations from SSE semi-official list, Key-Åberg,
Karl (1905): Svenska aktiebolag och enskilda banker [Swedish Joint-Stock
Companies] and Sammandrag av bankernas uppgiter [Compilation of
Commercial Bank Statistics], Norstedts.
o 1913: Source: Own calculations from SSE official list and Key-Åberg,
Karl (1914): Svenska aktiebolag och enskilda banker [Swedish Joint-Stock
Companies], Stockholm.
o 1929 1938: Source: Möller (1962): Svensk aktiemarknad [The Swedish
Stock Market], Göteborg.
o 1950-1970: Source: SOU 1973:60.
o 1980: Source: Stockholm Stock Exchange, Annual report.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88.
 Issues:
34
o 1900: Source: Statistics Sweden, Statistical Yearbook. Estimate from
countrywide IPOs
o 1913: Source: Belfrage (1917)
o 1929: Amsterdam Bank Quarterly review. Alternative: Statistisches
Jahrbuch 1933.
o 1938: Source: Meddelanden från Stockholms Handelskammare and KeyÅberg (ed): Svenska aktiebolag 1938 [Swedish joint-stock companies],
Stockholm
o 1950: Source: Möller (1962)
o 1960: Source: SOU 1973:60.
o 1970: Source: SOU 1973:60.
o 1980: Source: Hägg (1988): Stockholms Fondbörs. Riskkapitalmakrnad i
omvandling [Stockholm Stock Exchange. Venture Capital Market in
Transition], Stockholm:SNS.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A, page 27.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.8.A. ,page 109 (equity
issues) and table II.5.A., page 126 (bond issues). Photocopy available.
 # Companies:
o 1913: Source: Stockholm Stock Exchange, semi-official list
o 1900: Source: Belfrage, Kurt (1917): Stockholms Fondbörs. Historisk och
statistisk redogörelse för fondbörsens utveckling 1962-1917,[Stockholm
Stock Exchange, 1862-1917] Stockholm: Fahlcrantz & Co., pp 200.
o 1913: Source: SSE official list.
o 1929-1970: Source: Statistics Sweden: SOS, Ser E: Uppgifter om
bankerna, fondkommisionärer och fondbörsen.
o 1980: Source: Stockholm Stock Exchange, Annual report.
o 1990: FIBV 1990.
o 1999: FIBV Statistics 1999 (issue of 1999), table of I.1, pg. 86.
o
 Deposits:
o 1913-1998: From Mitchell, . International Historical Statistics: Europe
1750-1988.
o 1950: IFS, Jan. 1954, line 52-53
o 1960: IFS, Jan 1962, 47a and 47b.
o 1970: IFS, Oct. 1974, line 34, 35.
o 1980: IFS, Jan 1983, line 24 and 25.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, lines 25 and 25,
1998 datum. Photocopy available.
 Per Capita:
35
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 196,197. Note that the datum for 1999 is from 1994. Values are
in 1990 Geary-Khami dollars. Photocopy available.
 Population:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 106-107. Photocopy available. 1999 is 1994 datum.
o 1997: IMF, International Financial Statistics, April 1999 issue, line 99z.
Photocopy available.
 National Accounts:
o 1913-1980: Mitchell, B.R. International Historical Statistics: Europe 17501988. Photocopy available.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, lines 99b and
93e, 1998 datum.
Switzerland:
 Stock Exchange:
o 1913: spreadsheet.
o 1970: Zurich SE Annual Report.
o 1980: Zurich SE Annual Report.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88.
 Issues:
o 1913: Stucki 1924 pag 96.
o 1929: Schwab 1948.
o 1938: Statistisches Jahrbuch 1942.
o 1950: n/a
o 1960: OECD capital Market study.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A, page 27.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), page 126 (bond issues).
Photocopy available.
 # Companies:
o 1900: Stock Exchange fact book
o 1913: Zurich (only swiss co.s) From: Stucki 1924 p. 64.
o 1929-1990: Stock Exchange fact book
o 1999: FIBV Statistics 1999 (issue of 1999), table of I.1, pg. 86.
 Deposits:
36
o 1913-1998: From Mitchell, . International Historical Statistics: Europe
1750-1988. 1998 datum 1993.
o 1990: IFS
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 196,197. Note that the datum for 1999 is from 1994. Values are
in 1990 Geary-Khami dollars. Photocopy available.
 Population:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 106-107. Photocopy available. 1999 is 1994 datum.
 National Accounts:
o 1913-1950: Mitchell, B.R. International Historical Statistics: Europe 17501988. Photocopy available.
o 1960: IFS, Jan 1962, p183, 91 and 94.
o 1970: IFS, Oct. 1974, p264, line 99b and 93e.
o 1980: IFS, Jan 1983, p298, line 99b and 93e.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, lines 99b and
93e, 1998 datum.
UK:
 Stock Exchange:
o 1913: Stock + bonds from Morgan page 282.
o 1929: source not listed.
o 1938: Le bourses valeurs dans le monde page 141-42
o 1950: Le bourses valeurs dans le monde page 141-42
o 1960: Le bourses valeurs dans le monde page 141-42
o 1970: Le bourses valeurs dans le monde page 141-42
o 1980: FIBV fax.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88.
 Issues:
o 1913: from Stock market intell. (spreadshhet England_ipo)
o 1900: from Stock market intell. Vedi spreadshhet England_ipo.
o 1913: 1908 datum from Stock market intell. Vedi spreadshhet
England_ipo.
o 1929 1938: Thomas p. 35
37
o 1950 1960: 1954 datum for 1950. millions) Bank of England Statistical
abstract 1970 p. 92
o 1970: millions) Bank of England Statistical abstract 1975 p. 116
o 1980: FIBV fax. (1982)
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A, page 27.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), page 126 (bond issues).
Photocopy available.
 # Companies:
o 1913: From Review of Financial Reviews see spreadsheet.
o 1980: FIBV fax.
o 1990: Emerging Market Fact Book
o 1999: FIBV Statistics 1999 (issue of 1999), table of I.1, pg. 86.
 Deposits:
o 1913-1998: From Mitchell, . International Historical Statistics: Europe
1750-1988. 1998 datum 1993.
o 1950: IMF, International Financial Statistics, Jan. 1954, lines 52 and 53.
o 1960: IMF, International Financial Statistics, Jan. 1962, lines 24 and 25.
o 1970: IMF, International Financial Statistics, Oct. 1974, lines 24 and 25.
o 1980: IMF, International Financial Statistics, Jan. 1983, lines 24 and 25.
o 1990: IMF, International Financial Statistics, book not found.
o 1998: IMF, International Financial Statistics, April 1999 issue, pg. 388,
lines 24+25.
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 196,197. Note that the datum for 1999 is from 1994. Values are
in 1990 Geary-Khami dollars. Photocopy available.
 Population:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 106-107. Photocopy available. 1999 is 1994 datum.
 National Accounts:
o 1913-1950: Mitchell, B.R. International Historical Statistics: Europe 17501988. Photocopy available.
o 1950: IFS, Jan 1954, line 97.
o 1960: IFS, Jan 1962, 91 and 94.
o 1970: IFS, Oct. 1974, line 99b and 93e.
o 1980: IFS, Jan 1983, line 99b and 93e.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, lines 99b and
93e, 1998 datum.
38
USA:
 Stock Exchange:
o 1913: The stock prices of all the listed companies in New York, Boston,
Philadelphia, Baltimore, and Chicago are from The Financial review.
Finance, commerce, railroads. 1914. The price is the average of the high
and low price for 1913. We obtain the par value and the par share price,
which give us the number of shares, from Moody's Manual of Railroads
and Corporation Securities of 1914. We exclude five companies that are
obviously foreign. Then we sum the capitalization of the 5 exchanges
excluding cross-listings. We do not include the Curb Stock Exchange
because it was officially set up only in 1921.
o 1929-1970: million NYSE fact book.
o 1980: FIBV fax.
o 1990: FIBV Statistics 1990 (issue of 1990), table I.3.A., page 13.
o 1999: FIBV Statistics 1999 (issue of 1999), table I.3.A., page 88.
 Issues:
o 1913: 1885 datum from Financial Review 1890 page 11
o 1900: Financial Review 1909 page.
o 1913: Pratt pag 132 also consistent with Financial Review 1914 page 50.
o 1929: NYSE fact book.
o 1938: Machlup pag 348.
o 1950: SEC Statistical Bulletin, November 1951 p 3-5.
o 1960: OECD Capital Market Study pag 76-66
o 1970: OECD Financial Statistics 1974
o 1980: NYSE fact book 1981 page 59
o 1990: FIBV Statistics 1990 (issue of 1990), table I.8.A, page 27.
Photocopy available.
o 1999: FIBV Statistics 1999 (issue of 1999), page 126 (bond issues).
Photocopy available.
 # Companies:
o 1913-1900: Shultz pag 406.
o 1913: We follow the same procedure as for the stock market
capitalization.
o 1929: NYSE fact book. We input a number of companies to Curb
Market/Amex in proportion of its importance in 1938.
o 1938-1960: NYSE fact book and Amex fact book. The Amex factbook
reports only the number of issues (not of companies). We estimated the
number of companies using the ratio between number of companies and
number of issues of the NYSE the same year.
o 1970: NYSE fact book and Amex fact book.
o 1980: Handbook of world stock indexes
39
o 1990: Emerging Market Data Base
o 1999: FIBV Statistics 1999 (issue of 1999), table of I.1, pg. 86.
 Deposits:
o 1913-1938: From Mitchell, . International Historical Statistics: The
Americas 1750-1988.
o 1950: IMF, International Financial Statistics, Jan. 1954, lines 52 and 53.
o 1960: IMF, International Financial Statistics, Jan. 1962, lines 24 and 25.
o 1970: IMF, International Financial Statistics, Oct. 1974, lines 24 and 25.
o 1980: IMF, International Financial Statistics, Jan. 1983, lines 24 and 25.
o 1990: IMF, International Financial Statistics, book not found, lines 24 and
25.
o 1998: IMF, International Financial Statistics, April 1999 issue, pg. 388,
lines 24+25.
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 196,197. Note that the datum for 1999 is from 1994. Values are
in 1990 Geary-Khami dollars. Photocopy available.
 Population:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992, pgs. 106-107. Photocopy available. 1999 is 1994 datum.
o 1990: IFS, Jan 1992?, line 99z.
 National Accounts:
o 1913-1938: Mitchell, B.R. International Historical Statistics: The
Americas 1750-1988. Photocopy available.
o 1950: IFS, Jan 1954, line 97. GFCF from Mitchell as stated above.
o 1960: IFS, Jan 1962, 91 and 94.
o 1970: IFS, Oct. 1974, line 99b and 93e.
o 1980: IFS, Jan 1983, line 99b and 93e.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, lines 99b and
93e, 1998 datum.
 Per Capita:
o 1913-1999: Maddison, Angus. Monitoring the World Economy 18201992. Note that the datum for 1999 is from 1994. Values are in 1990
Geary-Khami dollars. Photocopy available.
 Population:
o 1913-1980: Maddison, Angus. Monitoring the World Economy 18201992,. Photocopy available. 1999 is 1994 datum.
40
o 1990: IFS, Jan 1992?, line 99z.
o 1999: IFS, April 99, line 99z.
 National Accounts:
o 1913 1929: estadisticas historicas.
o 1938: Mitchell, B.R. International Historical Statistics: The Americas
1750-1988. Photocopy available
o 1950: estadisticas historicas.
o 1960: IFS, Jan 1962, 91 and 94.
o 1970: IFS, Oct. 1974, line 99b and 93e.
o 1980: IFS, Jan 1983, line 99b and 93e.
o 1990: IFS
o 1999: IMF, International Financial Statistics, April, 1999, lines 99b and
93e, 1998 datum.
41