Empirical Studies on Bankers’ Wealth and Bank Balance Sheets

Qian Lu ()
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Qian Lu: Central University of Finance and Economics

Chapter Chapter 5 in From Partisan Banking to Open Access, 2017, pp 93-156 from Palgrave Macmillan

Abstract: Abstract This chapter studies the transition to open access from the economic perspective. Qian collects wealth data from Boston tax rolls between 1827 and 1859 and data on bank balance sheets from 1804 to 1861. The results show that in the era ofFree free banking de facto free bankingBanking free banking , bankers remained richer than other wealthy citizens, although the wealth inequality did not widen. Banks chartered in the free banking era were still politically connected, although their sizes were small. These results suggest that from the economic perspective, many bankers were still wealthy elites, and the banking sector was not owned by grassroots citizens.

Keywords: Bankers’ wealth; Tax rolls; Wealth inequality; Bank balance sheet; Bank assets (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palscp:978-3-319-67645-6_5

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DOI: 10.1007/978-3-319-67645-6_5

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