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Global Electrification. Multinational Enterprise and International Finance in the History of Light and Power, 1880s-1914

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  • William J. Hausman
  • Mira Wilkins
  • John L. Neufeld

Abstract

This work is part of a long-term research project on global electrification. Here we focus on the initial phase of electrification, from the 1880s to 1914, when multinational enterprise and international finance played a crucial role. Electrical equipment manufacturers were first movers in the establishment of operating electric utilities; however, since electric power facilities were highly capital intensive, outside investors needed to be brought in. Utility holding companies with very complex capital structures became major players in the establishment of electric utilities around the world, as did British ?free-standing? companies. We discuss some of the European and British companies that brought light and power to the cities of the world.

Suggested Citation

  • William J. Hausman & Mira Wilkins & John L. Neufeld, 2007. "Global Electrification. Multinational Enterprise and International Finance in the History of Light and Power, 1880s-1914," Revue économique, Presses de Sciences-Po, vol. 58(1), pages 173-190.
    • Handle: RePEc:cai:recosp:reco_581_0173
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    Cited by:

    1. Judith CLIFTON & Daniel DÍAZ-FUENTES & JULIO REVUELTA, 2013. "Explaining Infrastructure Investment Decisions at the European Investment Bank 1958-2004," Departmental Working Papers 2013-06, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    2. Clifton, Judith & Díaz-Fuentes, Daniel & Revuelta, Julio, 2014. "Financing utilities: How the role of the European Investment Bank shifted from regional development to making markets," Utilities Policy, Elsevier, vol. 29(C), pages 63-71.
    3. Alexandre Macchione Saes & Norma Lanciotti, 2014. "Foreign Electricity Companies In Argentina & Brazil: The Case Of American & Foreign Power (1926-1965)," Anais do XLI Encontro Nacional de Economia [Proceedings of the 41st Brazilian Economics Meeting] 029, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    4. Heino, Ossi & Anttiroiko, Ari-Veikko, 2014. "Enabling and Integrative Infrastructure Policy: The Role of Inverse Infrastructures in Local Infrastructure Provision with Special Reference to Finnish Water Cooperatives," MPRA Paper 60276, University Library of Munich, Germany, revised 28 Nov 2014.
    5. Ryo Izawa, 2017. "Under Political Uncertainties:Organisational Changes in the Imperial Continental Gas Association, 1824?1987," Discussion Papers CRR Discussion Paper Series A: General 24 Classification-, Shiga University, Faculty of Economics,Center for Risk Research.
    6. Kennedy, W & Delargy, R, 2011. "Shorting the Future: Capital Markets and the Launch of the British Electrical Industry, 1880-1892," Economics Discussion Papers 8947, University of Essex, Department of Economics.
    7. Judith Clifton & Pierre Lanthier & Harm Schröter, 2011. "Regulating and deregulating the public utilities 1830--2010," Business History, Taylor & Francis Journals, vol. 53(5), pages 659-672, August.
    8. Alexandre Macchione Saes & Felipe Pereira Loureiro, 2012. "From Foreign to State Investment in the Brazilian Electric Power Sector: the Expropriation of the American Foreign and Power in Brazil (1959-1965)," Working Papers, Department of Economics 2012_08, University of São Paulo (FEA-USP).
    9. Foreman-Peck, James & Hannah, Leslie, 2011. "Extreme Divorce: the Managerial Revolution in UK Companies before 1914," Cardiff Economics Working Papers E2011/21, Cardiff University, Cardiff Business School, Economics Section.
    10. Hugh Goldsmith, 2014. "The Long-Run Evolution of Infrastructure Services," CESifo Working Paper Series 5073, CESifo.
    11. Norma Lanciotti & Alexandre Macchione Saes, 2013. "Companhias estrangeiras de eletricidade na Argentina e no Brasil: o caso da American & Foreign Power (1926-1965)," Working Papers, Department of Economics 2013_14, University of São Paulo (FEA-USP), revised 21 Nov 2013.

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