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Book Categories |
List of Tables | ||
Acknowledgments | ||
List of Abbreviations | ||
1 | Introduction: The Wealth of Nations and National Wealth | 1 |
2 | The International and Colonial Background of America's Financial Revolution | 9 |
The First Financial Revolutions: Holland and Great Britain | 10 | |
Colonial America: Courts and Experiments | 16 | |
The First U.S. Information Revolution: From Periphery to Center | 18 | |
3 | Banks, Securities Markets, and the Reduction of Asymmetric Information | 26 |
Adverse Selection | 28 | |
Moral Hazard | 32 | |
The Principal-Agent Problem | 37 | |
4 | The Financial Sector and the Reduction of Lending-Related Costs and Risks | 43 |
Commercial Banking: Intermediation and Information Creation | 45 | |
The Emergence of Secondary Securities Markets | 51 | |
The National Bank and the Panic of 1792 | 75 | |
5 | Evidence of Capital Market Integration, 1800-1850 | 82 |
Brief Descriptions of the Major Securities Markets | 82 | |
Price Comparisons between Markets | 91 | |
Price Movements and the Theory of Portfolio Choice | 94 | |
Evidence of Efficiency: Bid-Ask Spreads | 97 | |
Geographical Distribution of Stockholders: Maine and Beyond | 99 | |
6 | Expansion of the Securities Services Sector, 1790-1850 | 123 |
Brokers: Their Role and Numbers | 124 | |
Initial Public Offerings | 130 | |
Trading Volumes in the Secondary Securities Markets: The Case of Philadelphia | 135 | |
Nonlisted Securities | 159 | |
A Brief Sketch of the Expansion of the Securities Sector | 166 | |
7 | The Freest of the Free: Regulation of the Financial Sector | 167 |
Securities Market Regulations | 167 | |
Special Banking Regulations | 173 | |
General Banking Regulations in New York: The Revised Statutes, the Safety Fund, and Free Banking | 175 | |
8 | Finance-Directed Economic Development | 193 |
Financing Trade | 194 | |
Financing Farming through Internal Improvements | 201 | |
Financing Manufacturing | 204 | |
9 | Conclusion | 212 |
References | 217 | |
Index | 227 |
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Add The Wealth of Nations Rediscovered: Integration and Expansion in American Financial Markets, 1780-1850, This new study applies the economic theory of information asymmetry to our understandings of early U.S. financial development, expanding on recent scholarship of finance-led economic growth. The book's research is original, incorporating little-used archi, The Wealth of Nations Rediscovered: Integration and Expansion in American Financial Markets, 1780-1850 to the inventory that you are selling on WonderClubX
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Add The Wealth of Nations Rediscovered: Integration and Expansion in American Financial Markets, 1780-1850, This new study applies the economic theory of information asymmetry to our understandings of early U.S. financial development, expanding on recent scholarship of finance-led economic growth. The book's research is original, incorporating little-used archi, The Wealth of Nations Rediscovered: Integration and Expansion in American Financial Markets, 1780-1850 to your collection on WonderClub |