Advances in Communication Technology and Growth of the American Over-the-Counter Markets, 1876–1929

@article{Ferderer2008AdvancesIC,
  title={Advances in Communication Technology and Growth of the American Over-the-Counter Markets, 1876–1929},
  author={J. Ferderer},
  journal={The Journal of Economic History},
  year={2008},
  volume={68},
  pages={501 - 534}
}
  • J. Ferderer
  • Published 2008
  • Economics
  • The Journal of Economic History
The rapid development of the nationwide telephone network following the expiration of the Bell patents in 1894, along with expansion of private wire telegraph networks, created the “nerve center” necessary for rapid growth in the decentralized, dealer-intermediated, over-the-counter security markets. Using membership roles from the National Quotation Bureau—the predecessor of the NASDAQ—I link growth in the number of dealers to the expansion of these communication networks prior to World War I… Expand
7 Citations

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