Energy Transitions and Financial Transformation: A Case of Energy and Financial Development in Late 18th-Early 19th Century Britain

This paper focuses on the paradigm that explains the link between energy transitions and financial transformations. In particular, it attempts to shed some light on the following question: How did the transition from wood to coal affect financial development in late 18th and early 19th century Britain? The results demonstrate that the energy transition in Britain during the 1st Industrial Revolution constituted an important moment in the country's financial development and can be used as an example of how an energy innovation can foster the financial development of particular countries or regions.