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Title: Did Railroads Make Antebellum US Banks More Sound?
Citation Type: Book, Section
Publication Year: 2015
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Abstract: Here, we describe a mechanism by which railroads not only affected finance on the extensive margin, but also led to efficiency changes that enhanced the intensity of financial intermediation. And, of course, it is the interaction of the intensity of intermediation with its quantity that seems most important for long-run growth (Rousseau and Wachtel 1998, 2011). This relationship proves to be one that does not generalize to all types of transportation; rather, railroads seem to have been the only transportation method that affected banks in this way.
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Authors: Atack, Jeremy; Jaremski, Matthew S; Rousseau, Peter L
Editors: William J. Collins, Robert A. Margo
Pages: 149-177
Volume Title: Enterprising America: Businesses, Banks and Credit Markets in Historical Perspective
Publisher: Chicago University Press
Publisher Location: Chicago, IL
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Data Collections: IPUMS NHGIS
Topics: Other
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