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The evolution of bank supervision : evidence from U.S. states
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Mitchener , Kris James (2014) The evolution of bank supervision : evidence from U.S. states. Working Paper. Coventry, UK: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2014 (Number 181).
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Text (Working paper)
WRAP_181-2014_mitchener.pdf - Published Version Download (1226Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
We use a novel data set spanning 1820-1910 to examine the origins of bank supervision
and assess factors leading to the creation of formal bank supervisory institutions across
U.S. states. We show that it took more than a century for the widespread adoption of
independent supervisory institutions tasked with maintaining the safety and soundness of
banks. State legislatures initially pursued cheaper regulatory alternatives, such as double
liability laws; however, banking distress at the state level as well as the structural shift
from note-issuing to deposit-taking commercial banks propelled policymakers to adopt
costly and permanent supervisory institutions.
Item Type: | Working or Discussion Paper (Working Paper) |
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Subjects: | E History America > E151 United States (General) H Social Sciences > HC Economic History and Conditions H Social Sciences > HF Commerce |
Divisions: | Faculty of Social Sciences > Economics |
Library of Congress Subject Headings (LCSH): | Banks and banking -- United States |
Series Name: | CAGE Online Working Paper Series |
Publisher: | Department of Economics, University of Warwick |
Place of Publication: | Coventry, UK |
Official Date: | January 2014 |
Volume: | Volume 2014 |
Number: | Number 181 |
Number of Pages: | 50 |
Status: | Not Peer Reviewed |
Publication Status: | Published |
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