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Introduction: Risks and Protagonists

In: Regulating the Financial Sector in the Era of Globalization

Author

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  • Zuhayr Mikdashi

    (University of Lausanne)

Abstract

Free trade — albeit conducted within different institutional frameworks of varying degrees of openness — have existed over various stretches of human civilization, and have spanned more or less extensive realms. In antiquity, for example, the period of Pax Romana (Roman peace) allowed commerce to flourish within the Roman empire, its provinces and dependencies, and beyond to non-Roman trading partners. This era is broadly defined as covering the two-century period extending from the reign of Augustus (27bc-ad14) to that of Marcus Aurelius (ad161–180). In more recent times, over long periods of the nineteenth and twentieth centuries, several countries espoused free trade and adopted the gold standard, with little or no regulation on cross-border capital movements.

Suggested Citation

  • Zuhayr Mikdashi, 2003. "Introduction: Risks and Protagonists," Palgrave Macmillan Books, in: Regulating the Financial Sector in the Era of Globalization, chapter 1, pages 1-10, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-9011-2_1
    DOI: 10.1057/9781403990112_1
    as

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