International Trade and the Evolution of the American Capital Market, 1888–1911

William Clark and Charlie Turner

The Journal of Economic History, 1985, vol. 45, issue 2, 405-410

Abstract: We examine the relationship between international trade and regional American credit markets. The evidence presented suggests that foreign payment flows had a significant effect on the level of interest rates in the East North Central, West North Central, Pacific, and Southern regions of the United States.

Date: 1985
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