Forrest Capie

Forrest Capie is Professor Emeritus of Economic History at the Cass Business School City University, London. After a doctorate at the London School of Economics (LSE) and a teaching fellowship there, he taught at the University of Warwick and the University of Leeds. He was a British Academy Fellow at the National Bureau in New York and a Visiting Professor at the University of Aix-Marseille and the LSE, and a Visiting Scholar at the IMF.

He was Head of Department of Banking and Finance at City University from 1989-1992; editor of the Economic History Review 1993-1999; a member of the Academic Advisory Council of the Institute of Economic Affairs in London, and an advisor to the Shadow Chancellor of the Exchequer. He has written widely on money, banking, trade and commercial policy and recently completed the commissioned history of the Bank of England (Cambridge University Press, 2010). His latest book ‘Money over Two Centuries’ was published by Oxford University Press in 2012.

He was recently advisor to the UK’s Parliamentary Commission on Banking following the recent global financial crisis.

Qualifications

BA (Auckland), MSc and PhD (London).

Memberships of Professional Organisations

• Shadow Monetary Policy Committee, 2002 – 2004
• Academician, Social Sciences, 2000 – present
• Shadow Chancellor's Advisory Council, 1999 – 2004

Expertise

Primary Topics

• Accounting
• Banking
• Business History
• Economic HistoryE
• conomics
• Financial Regulation
• Monetary Economics

Industries/Professions

banking

Geographic Areas

• Australia & Oceania
• Europe - Western

Research Topics

Central banking

Modern history

British banking history

19th and 20th centuries

History of commercial policy

Tariffs etc 19th and 20th century

Books (41)

• Wood, G. and Capie, F.H. (2014). Monetary Unions: Theory, History, Public Choice. Routledge. ISBN 978-1-138-00868-7.
• Capie, F. and Webber, A. (2013). A monetary history of the United Kingdom, 1870-1982: Data sources and methods. ISBN 978-1-315-01984-0.
• Capie, F. and Wood, G. (2012). Money Over Two Centuries Selected Topics in British Monetary History. Oxford University Press. ISBN 978-0-19-965512-0.
• Capie, F. (2012). The Bank of England: 1950s to 1979. Cambridge University Press. ISBN 978-1-107-62169-5.
• Capie, F. and Wood, G.E. (2011). Policy Makers on Policy: The Mais Lectures. London: Routledge. ISBN 978-0-415-57368-9.
• Capie, F. (2010). Depression and Protectionism: Britain Between the Wars. London: Routledge. ISBN 978-0-415-60704-9.
• Capie, F. (2010). The Bank of England: 1950s to 1979. Cambridge: Cambridge University Press. ISBN 978-0-521-19282-8.
• Wood, G.E. and Capie, F. (2010). The Great Depression. London: Routledge. ISBN 978-0-415-57351-1.
• Capie, F., Fischer, S., Goodhart, C. and Schnadt, N. (2008). The Future of Central Banking. The Tercentenary Symposium of the Bank of England. Canbridge: Cambridge University Press. ISBN 978-0-521-06546-7.
• Capie, F. and Wood, G.E. (2008). The Lender of Last Resort. Abingdon: Routledge. ISBN 978-0-415-46495-6.
• Capie, F. and Wood, G. (Eds.), (2007). The Lender Of Last Resort. Psychology Press. ISBN 978-0-415-32333-8.
• Bordo, M.D. and Capie, F. (2006). Monetary Regimes in Transition.
• Capie, F.H. and Wood, G.E. (2003). Monetary unions: Theory, history, public choice. ISBN 0-203-41791-7.
• Capie, F. (2003). Discussion of 'Charles Goodhart's contributions to the history of monetary institutions' and 'crises now and then'. ISBN 1-84376-086-X.
• Capie, F. (2002). British Financial Institutions and the New World.
• Capie, F. (2002). Capital Controls: A Cure Worse Than the Problem. Institute of Economic Affairs. ISBN 978-0-255-36506-2.
• Capie, F. and Gormez, Y. (2000). Electronic Money: The Last Frontier. Springer.
• Wood, G. and Capie, F.H. (1999). Banking Theory 1870-1930. Routledge. ISBN 978-0-415-20166-7.
• Wood, G. and Capie, F. (Eds.), (1999). Development of Monetary Theory in the 1920s and 1930s. Routledge.
• Capie, F. (1998). The Emergence of Central Banking in Europe.
• Capie, F. (1997). Central Banking in Economies of Transition.
• Capie, F. (1997). Central Bank Independence: The Historical Dimension.
• Wood, G. and Capie, F. (1997). Asset Prices and the Real Economy. Palgrave Macmillan. ISBN 978-0-312-12983-5.
• Capie, F. (1996). Protectionism in Europe Before 1939.
• Capie, F. (1995). Commercial Banking in Britain Between the Wars.
• Capie, F. (1995). Money and Prices in the Long Run.
• Capie, F. (1995). Money, Finance and the Great Depression.
• Capie, F. (1995). Prudent and Stable but Inefficient? English Banks.
• Capie, F. (1994). Commercial Bank Historiography in Britain and Scandinavia.
• Capie, F. (1994). Commercial Policy in the Modern World Economy.
• Capie, F. (1994). The Evolution of Financial Institutions and Markets in the UK in the Twentieth Century.
• Capie, F., Mills, T. and Wood, G. (1994). Central Bank Independence: Some Exploratory Analysis. IEA.
• Bordo, M.D. and Capie, F. (1993). Monetary Regimes in Transition. Cambridge University Press. ISBN 978-0-521-41906-2.
• Capie, F. and Collins, M. (1992). Did the Banks Fail British Industry? A Historical Survey… 1870-1990. Institute of Economic Affairs (IEA). ISBN 978-0-255-36308-2.
• Capie, F., Wood, G.E. and Finance, C.U.D.O.B.A. (1991). Unregulated Banking Chaos Or Order?
• Capie, F. Cliometrics Conference.
• Capie, F. Quantitative Economics.
• Capie, F. Agricultural History.
• Capie, F. Anna Schwartz Festschrift.
• Capie, F. British Cliometrics.
• Wood, G. and Capie, F. (Eds.), Monetary Economics in the 1990s. Palgrave Macmillan. ISBN 978-0-333-57561-1.

Chapters (42)

• Capie, F. and Wood, G. (2015). Central bank independence: Can it survive a crisis? Current Federal Reserve Policy Under the Lens of Economic History: Essays to Commemorate the Federal Reserve System's Centennial (pp. 126–150). ISBN 978-1-316-16277-4.
• Capie, F. (2013). Development and Evolution of International Financial Architecture. Handbook of Safeguarding Global Financial Stability (pp. 393–401). ISBN 978-0-12-397875-2.
• Capie, F.H. and Wood, G.E. (2012). Introduction: Three decades of monetary policy. Policy Makers on Policy: The Mais Lectures, Second Edition (pp. 1–16). ISBN 978-0-203-81670-7.
• Wood, G. and Capie, F. (2011). Financial Crises from 1803 to 2009: The Crescendo of Moral Hazard. In Chris Green, , Pentecost, E.J. and Weyman-Jones, T. (Eds.), The Financial Crisis and the Regulation of Finance (Essays in Honour of David Llewellyn) (pp. 134–154). London: Edward Elgar Publishing. ISBN 978-1-84980-870-5.
• Capie, F.H. (2007). Inflation in the twentieth century. Economic Disasters of the Twentieth Century (pp. 162–181). ISBN 978-1-84064-589-7.
• Capie, F. (2007). Some historical perspective on financial regulation. The Structure of Financial Regulation (pp. 69–85). ISBN 0-203-96231-1.
• Capie, F.H., Tsomocos, D.P. and Wood, G.E. (2006). Modelling institutional change in the payments system, and its implications for monetary policy. Institutional Change in the Payments System and Monetary Policy (pp. 62–80). ISBN 978-0-203-09995-7.
• Capie, F.H. (2006). The emergence of the Bank of England as a mature central bank. The Lender of Last Resort (pp. 297–316). ISBN 0-203-32758-6.
• Wood, G., Tsomocos, D. and Capie, F. (2006). Modelling Institutional Change in the Payments System. In Schmitz, S.W. and Wood, G. (Eds.), Institutional Change in the Payments System and Monetary Policy (pp. 62–80). Routledge. ISBN 978-0-415-38402-5.
• Wood, G., Capie, F. and Sensenbrennen, F. (2005). Attitude to Foreign Investment in the United Kingdom. In Huizinga, H. and Jonung, L. (Eds.), The Internationalisation of Asset Ownership in Europe (pp. 278–307). Cambridge University Press. ISBN 978-0-521-85295-1.
• Capie, F. (2004). Thomas Borthwick. Oxford Dictionary of National Biography OUP.
• Capie, F. (2004). Money and economic development in eighteenth-century England. In Escosura, L.P.D.L. (Ed.), Exceptionalism and Industrialisation: Britain and Its European Rivals, 1688-1815 (pp. 216–234). Cambridge: Cambridge University Press.
• Capie, F. and Wood, G. (2004). Price change, financial stability, and the british economy, 1870–1939. Deflation: Current and Historical Perspectives (pp. 61–90). ISBN 978-0-511-60700-4.
• Capie, F. (2004). Markets and governments. The British Government and the City of London in the Twentieth Century (pp. 59–75). ISBN 978-0-511-49617-2.
• Capie, F.H. and Wood, G.E. (2003). Introduction. (pp. 1–6). ISBN 0-203-41791-7.
• Capie, F. (2002). The Emergence of the Bank of England as a Mature Central Bank. In Winch, D. and O'Brien, P. (Eds.), The Political Economy of British Historical Experience, 1688-1914 OUP/British Academy.
• Capie, F. and Wood, G. (2002). Can the Euro Survive Unchanged? In El-Agraa, A.M. (Ed.), The euro and Britain: implications of moving into the EMU Financial Times/Prentice Hall, 2002. ISBN 978-0-273-65699-9.
• Wood, G. and Capie, F. (2002). The International Monetary System: An Historical Perspective on Current Proposals. In Aldcroft, D.H. and Oliver, M.J. (Eds.), Studies in economic and social history: Essays in Honour of Derek H. Aldcroft Ashgate Publishing.
• Capie, F. (1999). Monetary Unions in Historical Perspective: What Future for the Euro in the International Financial System. In Fratianni, M., Salvatore, D. and Savona, P. (Eds.), Ideas for the Future of the International Monetary System
• Reprinted from Open Economies Review Volume 9, Supplement 1. (pp. 77–95). New York: Springer. ISBN 978-1-4419-5077-2.
• Capie, F. and Wood, G.E. (1999). What Kind of Stability Helps Industry? Contrasting Experiences with British and German Banking. In Frowen, S. and McHugh, F. (Eds.), Financial Competition, Risk and Accountability Palgrave Macmillan UK.
• Capie, F. (1998). The Long-run Relationship Between Money and Prices. In Wood, G. (Ed.), Money, Prices and the Real Economy Edward Elgar Publishing.
• Capie, F. (1998). The Sources and Origins of Britian's Return to Protection, 1931-32. Free Trade and its Reception 1815-1960: Freedom and Trade: Volume One Routledge. ISBN 978-1-134-73181-7.
• Capie, F. (1997). Finance and Industry in Britain after 1945: Some Issues and Evidence Forrest Capie. In Abe, E. and Gourvish, T. (Eds.), Japanese Success? British Failure?: Comparisons in Business Performance since 1945 OUP Oxford. ISBN 978-0-19-829058-2.
• Capie, F. (1997). Trade Policy and Growth: Some European Experiences (1850-1940). In Mathis, P. and Davis, J.A. (Eds.), International Trade and British Economic Growth: From the Eighteenth Century to the Present Day ISBN 978-0-631-18116-3.
• Capie, F. and Wood, G.E. (1997). The British Trade Cycle, 1929-1937. In Glasner, D. (Ed.), Business Cycles and Depressions: An Encyclopedia Routledge. ISBN 978-0-8240-0944-1.
• Capie, F. and Wood, G.E. (1997). Money demand and supply under the gold standard: United Kingdom 1870–1914. In Bayoumi, T., Eichengreen, B. and Taylor, M.P. (Eds.), Modern Perspectives on the Gold Standard Cambridge University Press. ISBN 978-0-521-06351-7.
• Capie, F. and Wood, G. (1997). Money Demand and Supply Under the Gold Standard: Britain 1870-1914. In Bayoumi, T., Eichengreen, B. and Taylor, M.P. (Eds.), Modern Perspectives on the Gold Standard Cambridge University Press. ISBN 978-0-521-06351-7.
• Capie, F. and Wood, G.E. (1997). Introduction to Asset Prices and the Real Economy. In Capie, F. and Wood, G.E. (Eds.), Asset Prices and the Real Economy Springer. ISBN 978-1-349-25411-8.
• Capie, F. and Collins, M. (1996). Industrial Lending by English Commercial Banks, 1860-1914: Why Did Banks Refuse Loan? (pp. 26–44). Scholar Press.
• Capie, F. and Wood, G.E. (1996). Introduction. The Royal Institution of Chartered Surveyors.
• Capie, F. and Wood, G. (1995). A European Lender of the Last Resort: Some Lessons from History. In Reis, J. (Ed.), International Monetary Systems in Historical Perspective (pp. 209–229). Palgrave Macmillan UK. ISBN 978-1-349-24222-1.
• Wood, G. and Capie, F. (1994). Money in the Economy, 1870-1939. In Floud, R. and McCloskey, D.N. (Eds.), The Economic History of Britain Since 1700 Cambridge Univ Pr. ISBN 978-0-521-42522-3.
• Wood, G., Capie, F.H. and Mills, T.C. (1993). Central Bank Independence: An Exploratory Analysis of Historical Data. In Siklos, P.L. (Ed.), Varieties of Monetary Reforms: Lessons and Experiences on the Road to Monetary Union Kluwer Academic. ISBN 978-0-7923-9474-7.
• Capie, F. and Wood, G. (1993). The Anatomy of a Wartime Inflation, Britain 1939-1945. In Mills, G. and Rockoff, H. (Eds.), The Sinews of War: Essays on the Economic History of World War II Iowa State University Press.
• Capie, F. and Mills, T. (1992). Money and Business Cycles in the US, 1870-1913: A Re-examination of Friedman and Schwartz. (pp. 251–273). Springer (OR/MS Series-F. Hillier).
• Capie, F. (1992). Tariff Protection and Economic Performance in the Nineteenth Century. In Capie, F. (Ed.), Protectionism in the World Economy Edward Elgar Publishing Ltd. ISBN 978-1-85278-549-9.
• Capie, F. (1992). British economic fluctuations in the nineteenth century: is there a role for money. In Broadberry, S.N. and Craft, N.F.R. (Eds.), Britain in the International Economy, 1870-193 Cambridge: Cambridge University Press. ISBN 0-521-41859-3.
• Capie, F. (1992). European Payments Union. In Newman, P., Eatwell, J. and Milgate, M. (Eds.), The New Palgrave Dictionary of Money & Finance (3 volumes) Palgrave Macmillan UK.
• Capie, F. (1992). Window Dressing. In Newman, P., Milgate, M. and Eatwell, J. (Eds.), The New Palgrave Dictionary of Money & Finance (3 volumes) Palgrave Macmillan UK. ISBN 978-1-349-11723-9.
• Capie, F. (1992). Banking - Why Should the Taxpayer Bear the Risk? In Lewis, R. (Ed.), Recent Controversies in Political Economy Routledge. ISBN 978-0-415-07979-2.
• Capie, F. (1992). The British Tariff and Industrial Protection in the 1930s. In Capie, F. (Ed.), Protectionism in the World Economy Edward Elgar Publishing. ISBN 978-1-85278-549-9.
• Capie, F. and Wood, G. (1992). The Anatomy of a Wartime Inflation, Britain 1939-1945. In Rockoff, H. (Ed.), Price Controls EE Edward Elgar. ISBN 978-1-85278-431-7.

Editorial Activities (3)

• Australian Economic History Review, Member of Editorial Board, 2004 – present.
• Economic History Review, Editor, 1993 – 1999.
• Economic History Review, Book Reviews Editor, 1986 – 1990.