Free banking gone awry: the Australian banking crisis of 1893
AbstractAustralia during the second half of the nineteenth century experimented with a free banking system. However, the severe banking crisis experienced in 1893 poses a difficulty for proponents of free banking as they argue that such systems should be free from instability. We suggest that the few regulations that Australian banks faced were either not credible or had minimal impact on bank prudential behaviour. Using data on individual banks and the overall banking system, we go on to suggest that the 1893 banking crisis was the natural outcome of an unregulated environment. We also examine the role played by the colonial governments during the crisis.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Cambridge University Press in its journal Financial History Review.
Volume (Year): 9 (2002)
Issue (Month): 02 (October)
Contact details of provider:
Postal: The Edinburgh Building, Shaftesbury Road, Cambridge CB2 2RU UK
Fax: +44 (0)1223 325150
Web page: http://journals.cambridge.org/jid_FHRProvider-Email:firstname.lastname@example.org
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Keith Waters).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.