A History of Banking in Antebellum America

Financial Markets and Economic Development in an Era of Nation-Building

AvHoward Bodenhorn

Inbunden, Engelska, 2000

Del i serien Studies in Macroeconomic History

821 kr

Beställningsvara. Skickas inom 7-10 vardagar. Fri frakt över 249 kr.

Fler format och utgåvor

Häftad

523 kr

Beskrivning

Previous banking histories have focused on the money supply function of early American banks and its connection to the recurrent boom-bust cycle of the antebellum era. This history focuses on the credit generating function of American banks It demonstrates that banks aggressively promoted development rather than passively followed its course. Using previously unexploited data, Professor Bodenhorn shows that banks helped to advance the development of incipient industrialization. Additionally, he shows that banks formed long-distance relationships that promoted geographic capital mobility, thereby assuring that short-term capital was directed in socially desirable directions, that is, where it was most in demand. He then traces those institutional and legal developments that allowed for this capital mobility. The result was that America was served by an efficient system of financial intermediaries by the mid-nineteenth century.

Produktinformation

Utgivningsdatum:2000-02-13
Mått:158 x 238 x 21 mm
Vikt:515 g
Format:Inbunden
Språk:Engelska
Serie:Studies in Macroeconomic History
Antal sidor:284
Förlag:Cambridge University Press
ISBN:9780521662857

Utforska kategorier

Ekonomisk historia inom Ekonomi och Ledarskap
Finansiering inom Ekonomi och Ledarskap

Recensioner i media

'In A History of Banking in Antebellum America Howard Bodenhorn provides an excellent analysis of the nature of banking and short-term credit markets before the Civil War, detailing the contributions of these financial institutions to the economic development in the northern and southern regions of the United States. This significant treatment of the role of banks in economic growth represents an important shift of focus from discussions dealing primarily with bank panics and financial instability, and it will be of interest to all economists and historians concerned with the relation between bank finance and economic change.' Stanley Engerman, University of Rochester

Innehållsförteckning

1. Introduction: historical setting and three views of banking; 2. Financial development and economic growth in Antebellum America; 3. Financing entrepreneurship: banks, merchants and manufacturers; 4. The integration of short-term capital markets in Antebellum America; 5. Banks, brokers, and capital mobility; 6. Conclusion: how banks mattered.