Entry, Competition, and Terms of Credit in Early American Banking

Ta-Chen Wang

A chapter in Research in Economic History, 2016, vol. 32, pp 363-386 from Emerald Group Publishing Limited

Abstract: This paper examines the effect of bank expansion on credit access and terms of credit in early America. The bank records from Plymouth Bank, Massachusetts and the Census records provide detailed information on borrowers, endorser, types and terms of loans, and borrower characteristics. The results show that the introduction of new banks did broaden credit access. However, after competition was introduced, the Bank focused more on short-term bills of exchange. In other words, the Bank shifted its emphasis from long-term accommodation paper to short-term bills of exchange.

Keywords: Banking; financial history; bills of exchange; N21; G21 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rehizz:s0363-326820160000032006

DOI: 10.1108/S0363-326820160000032006

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