Competitive Banking, Bankers' Clubs, and Bank Regulation
AbstractThis paper reexamines the view that banking regulation and central banking arose to counter market 'failures.' It investigates the factors that led bankers to form clubs and examines the 'regulations' imposed by clubs on their members. It suggests that such regulation is different from real-world regulation and central banking and would be unlikely to arise spontaneously from free banking anyway. It also suggests that this view is consistent with available evidence and compares it with the alternative views of Gary Gorton and Donald J. Mullineaux (1987), and of Charles A. E. Goodhart. Copyright 1994 by Ohio State University Press.
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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 26 (1994)
Issue (Month): 2 (May)
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Bryan Caplan & Edward Stringham, 2003.
"Networks, Law, and the Paradox of Cooperation,"
The Review of Austrian Economics,
Springer, vol. 16(4), pages 309-326, December.
- Selgin, George, 2004. "Wholesale payments: questioning the market-failure hypothesis," International Review of Law and Economics, Elsevier, vol. 24(3), pages 333-350, September.
- Winkler, Adalbert, 2001. "On the need for an international lender of last resort: Lessons from domestic financial markets," W.E.P. - WÃ¼rzburg Economic Papers 28, University of Würzburg, Chair for Monetary Policy and International Economics.
- David Vanhoose, 1997. "Macroeconomic stability in a free banking system," Atlantic Economic Journal, International Atlantic Economic Society, vol. 25(4), pages 331-343, December.
- Iman van Lelyveld & Arnold Schilder, 2002.
"Risk in Financial Conglomerates: Management and Supervision,"
Research Series Supervision (discontinued)
49, Netherlands Central Bank, Directorate Supervision.
- Iman van Lelyveld & Arnold Schilder, 2003. "Risk in Financial Conglomerates: Management and Supervision," Finance 0301006, EconWPA.
- Young, Andrew T. & Dove, John A., 2013. "Policing the chain gang: Panel cointegration analysis of the stability of the Suffolk System, 1825–1858," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 182-196.
- Fernando Ossa, 2003. "Los Bancos Centrales como Prestamistas de Última Instancia," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(120), pages 323-335.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.