Émergence d'une bourse régionale française. La bourse de Lille au XIXe siècle

With the emergence of many financial markets in the developing countries, certain economists defend the capacity of these markets to promote long-term economic growth thanks to a catalyst: the liquidity of stock markets. Their detractors put forward the point that these markets could simply be opportunistic and follow the economic development. The appearance of regional exchanges at the end of the 19th century takes on great interest here, because it brings a past light on the direction of a currently controversial causality. Our case study on the French regional exchange in Lille reveals a trading floor authorized in 1861 but only after fifteen years of regional development characterized by the construction of the railroad, successful mining discoveries and the launch of the textile industry. We study the role and limits of this financial market, during the 20 years following the opening of the trading floor.