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The Randlord's bubble 1894-6: South African gold mines and stock market manipulation

Abstract:
The early history of the Transvaal gold mines for long has been linked with imperialism, the Jameson Raid and the Boer War. The gold mine owners actually had no financial interest in war with the Boers since their money was made primarily by stock market manipulation, rather than in efficiently utilising the underlying assets. South African gold mining shares were consistently overvalued relative to their true earning power, both before and after the Jameson Raid. Only the outbreak of the war caused them to slump badly.
Publication status:
Published

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Role:
Author
Publisher:
University of Oxford Publisher's website
Article number:
10
Series:
Oxford Economic and Social History Working Papers
Place of publication:
Oxford
Publication date:
1996-08-01
Paper number:
10
Language:
English
Pubs id:
1167898
Local pid:
pubs:1167898
Deposit date:
2021-03-15

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