Rulers and capital in historical perspective : state formation and financial development in India and the United States / Abhishek Chatterjee.

Format:

Book

Author/Creator:

Chatterjee, Abhishek, 1977- author.

Language:

English

Subjects (All):

Capital market--United States--18th century.

Capital market.

Capital market--India--History--18th century.

Capital market--United States--19th century.

Capital market--India--History--19th century.

United States.

India.

Genre:

History

Electronic books.

Physical Description:

1 online resource (187 pages)

Edition:

1st ed.

Place of Publication:

Philadelphia, Pennsylvania ; Rome, [Italy] ; Tokyo, [Japan] : Temple University Press, 2017.

Summary:

Rulers and Capital in Historical Perspective explains why modern banking and credit systems emerged in the nineteenth century only in certain countries that then subsequently industrialized and became developed. Tracing the contemporaneous cases of India and the United States over time, Abhishek Chatterjee identifies the factors that were crucial to the development and regulation of a modern banking and credit system in the United States during the first third of the nineteenth century. He contrasts this situation with India's, where the state never formally incorporated a sophisticated private credit system, and thus relegated it to the sphere of the informal economy. Chatterjee identifies certain features in both societies, often-though not always-associated with colonialism, that tended to restrict the formation of modern institutionalized money and credit markets. Rulers and Capital in Historical Perspective demonstrates thatnotwithstanding the many other differences between the North American colonies (prior to independence), and India, the same facets of their relationships with Great Britain prevented the emergence of a modern banking system in the two respective societies.

Contents:

Acknowledgments; 1. Introduction: The Question and the Argument in Brief; 2. The Argument and the Literature(s); 3. Public Credit and the Emergence of a Money and Credit System in the United States; 4. Merchants, Bankers, and Rulers: States, Money, and Credit in India; 5. Banks and the State: The United States, 1790-1836; 6. Conclusion and Further Implications; Notes; References; Index.

Notes:

Includes bibliographical references and index.

Description based on print version record.

ISBN:

9781439915011

1439915016

9781439915028

1439915024

OCLC:

989520244