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Banks, Free Banks, and U.S. Economic Growth / Matthew Jaremski, Peter L. Rousseau.
- Format:
- Book
- Author/Creator:
- Jaremski, Matthew.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w18021.
- NBER working paper series no. w18021
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2012.
- Summary:
- The "Federalist financial revolution" may have jump-started the U.S. economy into modern growth, but the Free Banking System (1837-1862) did not play a direct role in sustaining it. Despite lowering entry barriers and extending banking into developing regions, we find in county-level data that free banks had little or no effect on growth. The result is not just a symptom of the era, as state-chartered banks seem to have strong and positive effects on manufacturing and urbanization.
- Notes:
- Print version record
- April 2012.
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