logging in or signing up Wang aSGuest46188 Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 5 Category: Entertainment License: All Rights Reserved Like it (0) Dislike it (0) Added: May 28, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Financial Market and Industry Structure:A Comparison of Banking and Textile Industry between Boston and Philadelphia in Early Nineteenth Century : Financial Market and Industry Structure:A Comparison of Banking and Textile Industry between Boston and Philadelphia in Early Nineteenth Century Ta-Chen Wang California State University, Sacramento 2008 Gavin Wright Fest Motivation : Motivation Financial system and economic performance Focus on growth rate 19th century American development Divergent paths to industrialization New England Philadelphia Question: What caused the different route to industrialization 2008 Gavin Wright Fest Industrial Development : Industrial Development New England and Philadelphia Difference in Size Organization forms Labor quality/sources Product Financing sources Capital accumulation process 2008 Gavin Wright Fest What caused the difference? : What caused the difference? Artisanal tradition Culture The role of merchants Other factors Banking : Banking Parallel Divergence in banking State charter policies Bank capital and assets Banking practices Was there a relationship? 2008 Gavin Wright Fest Banking Development : Banking Development New England Numerous smaller banks Ease of entry Relatively consistent growth in number of banks Practice Lamoreaux, insider lending Engines of industry 2008 Gavin Wright Fest Entry Policy : Entry Policy New England, de facto free entry Pennsylvania Omnibus Act of 1814, large number of banks Lagged behind, especially after 1819 Heavily hit again after 1837 2008 Gavin Wright Fest Number of banks : Number of banks 2008 Gavin Wright Fest Source: Weber (2008) Total amount of loan : Total amount of loan 2008 Gavin Wright Fest Sizes of banks : Sizes of banks 2008 Gavin Wright Fest Bank lending per capita : Bank lending per capita 2008 Gavin Wright Fest Source: Weber (2008) Lending Practices : Lending Practices New England Insider lending Middle-Atlantic States: broader clientele? Duration of loans Are Mid-Atlantic banks more real-bills banks? Less frequent renewals 2008 Gavin Wright Fest Average loan to capital ratio : Average loan to capital ratio 2008 Gavin Wright Fest Next Steps : Next Steps Banking practices Evidence from balance sheet data Changes in the industrial landscape Esp. Philadelphia Explore the common factors that affects both 2008 Gavin Wright Fest Challenges : Challenges Merchant participated in banks but not textile Why not if profitable? Exogenous shocks and bank failure? Crisis of 1819 Charter policy? Endogeniety of banks Demand side? Competition of textile industry 2008 Gavin Wright Fest Implications : Implications Role of banks in economic development Banks caused development? In what sense? Philadelphia could overcome the lack of bank credit 2008 Gavin Wright Fest You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
Wang aSGuest46188 Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 5 Category: Entertainment License: All Rights Reserved Like it (0) Dislike it (0) Added: May 28, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Financial Market and Industry Structure:A Comparison of Banking and Textile Industry between Boston and Philadelphia in Early Nineteenth Century : Financial Market and Industry Structure:A Comparison of Banking and Textile Industry between Boston and Philadelphia in Early Nineteenth Century Ta-Chen Wang California State University, Sacramento 2008 Gavin Wright Fest Motivation : Motivation Financial system and economic performance Focus on growth rate 19th century American development Divergent paths to industrialization New England Philadelphia Question: What caused the different route to industrialization 2008 Gavin Wright Fest Industrial Development : Industrial Development New England and Philadelphia Difference in Size Organization forms Labor quality/sources Product Financing sources Capital accumulation process 2008 Gavin Wright Fest What caused the difference? : What caused the difference? Artisanal tradition Culture The role of merchants Other factors Banking : Banking Parallel Divergence in banking State charter policies Bank capital and assets Banking practices Was there a relationship? 2008 Gavin Wright Fest Banking Development : Banking Development New England Numerous smaller banks Ease of entry Relatively consistent growth in number of banks Practice Lamoreaux, insider lending Engines of industry 2008 Gavin Wright Fest Entry Policy : Entry Policy New England, de facto free entry Pennsylvania Omnibus Act of 1814, large number of banks Lagged behind, especially after 1819 Heavily hit again after 1837 2008 Gavin Wright Fest Number of banks : Number of banks 2008 Gavin Wright Fest Source: Weber (2008) Total amount of loan : Total amount of loan 2008 Gavin Wright Fest Sizes of banks : Sizes of banks 2008 Gavin Wright Fest Bank lending per capita : Bank lending per capita 2008 Gavin Wright Fest Source: Weber (2008) Lending Practices : Lending Practices New England Insider lending Middle-Atlantic States: broader clientele? Duration of loans Are Mid-Atlantic banks more real-bills banks? Less frequent renewals 2008 Gavin Wright Fest Average loan to capital ratio : Average loan to capital ratio 2008 Gavin Wright Fest Next Steps : Next Steps Banking practices Evidence from balance sheet data Changes in the industrial landscape Esp. Philadelphia Explore the common factors that affects both 2008 Gavin Wright Fest Challenges : Challenges Merchant participated in banks but not textile Why not if profitable? Exogenous shocks and bank failure? Crisis of 1819 Charter policy? Endogeniety of banks Demand side? Competition of textile industry 2008 Gavin Wright Fest Implications : Implications Role of banks in economic development Banks caused development? In what sense? Philadelphia could overcome the lack of bank credit 2008 Gavin Wright Fest