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Title: Banks, Free Banks, and U.S. Economic Growth

Citation Type: Journal Article

Publication Year: 2013

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ISSN:

DOI: https://doi.org/10.1111/j.1465-7295.2012.00495.x

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Abstract: 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.

Url: https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1465-7295.2012.00495.x

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Authors: Jaremski, Matthew; Rousseau, Peter

Periodical (Full): Economic Inquiry

Issue: 2

Volume: 51

Pages: 1603-1621

Data Collections: IPUMS NHGIS

Topics: Land Use/Urban Organization, Other, Population Mobility and Spatial Demography

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