Howard Bodenhorn

in State Banking in Early America

Published in print December 2002 | ISBN: 9780195147766
Published online November 2003 | e-ISBN: 9780199832910 | DOI:

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Studies of modern banking systems focus on two issues: the efficiency of banks as intermediaries and the connection between financial intermediation and economic growth. Earlier banking systems should be judged on the same criteria. Each region of the U.S. developed a unique regional banking structure, which had implications for intermediation and growth. It was a period of experimentation, often labeled as free banking, that allowed states to create banking structures tailored to local needs.

Keywords: banking structure; banking systems; economic growth; financial experimentation; financial intermediation; free banking

Chapter.  3476 words. 

Subjects: Economic History

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