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Department of History

Staff Profile

Professor Ranald Michie

Professor Emeritus (Financial History) in the Department of History
Leader of Work Package 2 in Tipping Points Research Project

(email at

Ranald Michie's research interests all fall into the broad area of financial history. Though primarily focused on the history of the British financial system, his work takes a global perspective. This is driven by a belief that no national financial system can be adequately understood in isolation. While banks and stock exchanges are traditionally studied as distinct financial institutions, he is equally concerned with their interaction through the money and capital markets. He similarly seeks to study both the internal workings and external connections of financial systems. As a result, his research has increasingly concentrated on two aspects. The first is the history of global securities markets, extending his publications on the London Stock Exchange to work on stock exchanges around the world. The second is the history of the City of London as a financial centre as it moved from trade to finance, and from domestic to global orientations.

Research Groups

  • Economic/Labour
  • Modern

Research Projects

  • Tipping Points

Research Interests

  • British and international economic history since 1700
  • Financial history, especially the City of London
  • Stock exchanges


Authored book

Chapter in book

Edited book

  • 2004 (co-edited with Philip Williamson) The British Government and the City of London in the Twentieth Century, Cambridge University Press, 381 pp.
  • 2000 The Development of London as a Financial Centre, I.B. Tauris.

Journal Article

  • 2008 'Reversal or change? The global securities market in the 20th century', New Global Studies 2.
  • 1999 'Insiders, outsiders and the dynamics of change in the City of London since 1900', Journal of Contemporary History 33, pp. 547-71
  • 1998 'The invisible stabiliser: asset arbitrage and the international monetary system since 1700', Financial History Review 15, pp. 5-26
  • 1997 'Friend or foe? Information technology and the London Stock Exchange since 1700', Journal of Historical Geography 23, pp. 304-26
  • 1996 'The international trade in food and the City of London since 1850', Journal of European Economic History 25, pp. 369-404
  • 1988 'Dunn, Fischer and Co. in the City of London, 1906-14', Business History 30, pp. 195-218
  • 1988 'The finance of innovation in late Victorian and Edwardian Britain: possibilities and constraints', Journal of European Economic History 17, pp. 491-530
  • 1985 'Income, expenditure and investment of a Victorian millionaire: Lord Overstone, 1823-83', Bulletin of the Institute of Historical Research 58, pp. 59-77
  • 1985 'The London Stock Exchange and the British securities market, 1850-1914', Economic History Review 38, pp. 61-82
  • 1983 'Crisis and opportunity: the formation and operation of the British Assets Trust 1897-1914', Business History 25, pp. 125-147
  • 1981 'Options, concessions, syndicates, and the provision of venture capital, 1880 - 1913', Business History 23, pp. 147-164
  • 1979 'The social web of investment in the nineteenth century', Revue Internationale d'Histoire de la Banque 18, pp. 158-175
  • 1977 'North-east Scotland and the northern whale fishing, 1752-1893', Northern Scotland 3, pp. 60-85

Teaching Areas

  • British economic history since 1700
  • The City of London since 1850