Coverart for item
The Resource Insider lending : banks, personal connections, and economic development in industrial New England, Naomi R. Lamoreaux

Insider lending : banks, personal connections, and economic development in industrial New England, Naomi R. Lamoreaux

Label
Insider lending : banks, personal connections, and economic development in industrial New England
Title
Insider lending
Title remainder
banks, personal connections, and economic development in industrial New England
Statement of responsibility
Naomi R. Lamoreaux
Creator
Contributor
Subject
Genre
Language
eng
Summary
Banks in early nineteenth-century New England functioned very differently from their modern counterparts. Most significantly, they lent a large proportion of their funds to members of their own boards of directors or to others with close personal connections to the boards. In Insider Lending, Naomi R. Lamoreaux explores the workings of this early nineteenth-century banking system - how and how well it functioned and the way it was regarded by contemporaries. She also traces the processes that transformed this banking system based on insider lending into a more impersonal and professional system by the end of the century. In the particular social, economic, and political context of early nineteenth-century New England, Lamoreaux argues, the benefits of insider lending outweighed its costs, and banks were instrumental in financing economic development. As the banking system grew more impersonal, however, banks came to play a more restricted role in economic life. At the root of this change were the new information problems banks faced when they conducted more and more of their business at arm's length. Difficulties in obtaining information about the creditworthiness of borrowers and in conveying information to the public about their own soundness led them to concentrate on providing short-term loans to commercial borrowers and to forsake the important role they had played early on in financing economic development
Member of
Cataloging source
DLC
http://library.link/vocab/creatorName
Lamoreaux, Naomi R
Dewey number
332.1/753
Illustrations
  • illustrations
  • plates
Index
index present
LC call number
HG2601
LC item number
.L36 1994
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorName
National Bureau of Economic Research
Series statement
NBER series on long-term factors in economic development
http://library.link/vocab/subjectName
  • Banks and banking
  • Commercial loans
  • Economic development projects
  • Asset-backed financing
Label
Insider lending : banks, personal connections, and economic development in industrial New England, Naomi R. Lamoreaux
Instantiates
Publication
Note
"NBER."
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
1. Vehicles for accumulating capital -- 2. Insider lending and Jacksonian hostility toward banks -- 3. Engines of economic development -- 4. The decline of insider lending and the problem of determining creditworthiness -- 5. Professionalization and specialization -- 6. The merger movement in banking
Control code
28800376
Dimensions
28 cm
Extent
xiii, 170 pages, 10 unnumbered pages of plates
Isbn
9780521460965
Lccn
93032161
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
Other physical details
illustrations
Label
Insider lending : banks, personal connections, and economic development in industrial New England, Naomi R. Lamoreaux
Publication
Note
"NBER."
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
1. Vehicles for accumulating capital -- 2. Insider lending and Jacksonian hostility toward banks -- 3. Engines of economic development -- 4. The decline of insider lending and the problem of determining creditworthiness -- 5. Professionalization and specialization -- 6. The merger movement in banking
Control code
28800376
Dimensions
28 cm
Extent
xiii, 170 pages, 10 unnumbered pages of plates
Isbn
9780521460965
Lccn
93032161
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
Other physical details
illustrations

Library Locations

    • Ellis LibraryBorrow it
      1020 Lowry Street, Columbia, MO, 65201, US
      38.944491 -92.326012
Processing Feedback ...