Bank Behavior, Regulation, and Economic Development: California, 1860-1910 Book

	Illustrations
	Foreword
	Acknowledgements
1	Introduction	1
	Regulation, the Financial Sector, and Economic Growth	1
	Banking, Financial Intermediation and Economic Development	5
	Lessons From the Past	8
	Banking, Regulation and California's Economic Development	14
2	Regulation and Banking Development in California, 1853-1909	21
	California's Regulation of its State-Chartered Banks	23
	The Enforcement of California's Banking Laws	31
	The Development of National Banking in California: Slow Growth to 1900	35
	The Rapid Growth of National Banking in California in the 1900s	41
	Regulation and Bank Failures	48
3	Banking and the Development of California's Economy, 1860-1910	73
	Comparisons of Banking Development Over Time and Across States	76
	The Patterns of Banking and Economic Activity	78
	Distribution of Banking Across California's Counties	82
4	A Model of the Banking Find	111
	The Model	112
	Reserves Against Net Disbursement of Cash	113
	Competition with Other Banks	120
	Applying the Model to California's Banks	127
5	Individual Bank Behavior in California, 1878-1908	133
	Discussion of Data and Definition of the Variables	133
	The Regression Results	140
	Comparisons With Other Studies of Bank Behavior	144
6	Entry Into Local Banking Markets in California, 1884-1908	163
	A Model of Bank Entry Into Local Banking Markets	164
	Assessing the Impact of Entry on Performance	170
	Appendix to Chapter 6: Research on Bank Entry	179
7	California Banking and the Evolution of a National Capital Market	189
	The Pattern of Interest Rates	190
	The Perfect Market Hypothesis	195
	The Market Power Hypothesis	202
	Market Demand and Disequilibrium	212
	Bibliography	233
	Index	255