National Banking's Role in US Industrialization, 1850-1900

• 成果类型: Article
• 署名作者: Colgate University
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050714000047
• 发表日期: 2014
• 页码: 109-140
• 关键词: american manufacturing belt; ECONOMIC-GROWTH; market structure; 19th-century; POLICY; banks; size

摘要

The passage of the National Banking Acts stabilized the existing financial system and encouraged the entry of 729 banks between 1863 and 1866. These new banks concentrated in the area that would eventually become the Manufacturing Belt. Using a new bank census, the article shows that these changes to the financial system were a major determinant of the geographic distribution of manufacturing and the nation's sudden capital deepening. The entry not only resulted in more manufacturing capital and output at the county level, but also more steam engines and value added at the establishment level.