In a globalised world, when financial crisis strikes, can countries which are well-integrated into the world financial system escape? Recent experience suggests not. In the early 1930s, Britain's openness at the centre of the world financial system left it vulnerable, particularly to the central...

British banks have long attached great importance to capital. Currently they are subject to greater scrutiny and regulation on this issue than ever before. However, it was not until the disclosure of 'hidden reserves' in 1970 that a true picture of British banks' capital emerged. This article...

In this article, we examine the design and administration of Excess Profits Duty (EPD), introduced in the UK in 1915. This represented a significant innovation as the country's first comprehensive attempt to tax 'excessive' business profits. EPD was a complex tax which had two objectives: to...

This introductory essay discusses the context for the special issue, introduces the contributions, considers a number of key themes which link the articles and suggests areas for future research; in particular it makes a case for the link of organisational diversity and the stability of the...