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Insider lending : banks, personal connections, and economic development in industrial New England

Author: Naomi R Lamoreaux; National Bureau of Economic Research.
Publisher: Cambridge [England] ; New York : Cambridge University Press, 1994.
Series: NBER series on long-term factors in economic development.
Edition/Format:   Print book : EnglishView all editions and formats
Database:WorldCat
Summary:
Banks in early nineteenth-century New England functioned very differently from their modern counterparts. Most significantly, they lent a large proportion of their funds to members of their own boards of directors or to others with close personal connections to the boards. In Insider Lending, Naomi R. Lamoreaux explores the workings of this early nineteenth-century banking system - how and how well it functioned and  Read more...
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Genre/Form: History
Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Naomi R Lamoreaux; National Bureau of Economic Research.
ISBN: 0521460964 9780521460965
OCLC Number: 28800376
Notes: "NBER."
Description: xiii, 170 pages, [10] pages of plates : illustrations ; 28 cm.
Contents: 1. Vehicles for accumulating capital --
2. Insider lending and Jacksonian hostility toward banks --
3. Engines of economic development --
4. The decline of insider lending and the problem of determining creditworthiness --
5. Professionalization and specialization --
6. The merger movement in banking.
Series Title: NBER series on long-term factors in economic development.
Responsibility: Naomi R. Lamoreaux.
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Abstract:

This book, first published in 1994, explores the important role that insider lending played in the economic development of early nineteenth-century New England.  Read more...

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."..this is an excellent and important book. It is based on extensive analysis of individual bank records, diaries, correspondence, industry literature, public records, and reports; and it is very Read more...

 
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