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Bank Rates of Return and Entry Restrictions, 1869–1914

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  • Binder, John J.
  • Brown, David T.

Abstract

This article uses a variety of data in a simple regression framework to test various hypotheses about the regional differences in U.S. bank rates of return existing before 1915. We find that the observed pattern in the return differences is a function of the measures of bank returns used in previous studies, regional differences in economic conditions, restrictions on interstate branch banking, and private bank minimum capital requirements. These results are inconsistent with most of the bank monopoly-power hypotheses in the literature.

Suggested Citation

  • Binder, John J. & Brown, David T., 1991. "Bank Rates of Return and Entry Restrictions, 1869–1914," The Journal of Economic History, Cambridge University Press, vol. 51(1), pages 47-66, March.
    • Handle: RePEc:cup:jechis:v:51:y:1991:i:01:p:47-66_03
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    Cited by:

    1. Raghuram G. Rajan & Rodney Ramcharan, 2011. "Land and Credit: A Study of the Political Economy of Banking in the United States in the Early 20th Century," Journal of Finance, American Finance Association, vol. 66(6), pages 1895-1931, December.
    2. Mary Eschelbach Hansen, 2014. "Sources of Credit and the Extent of the Credit Market: A View from Bankruptcy Records, Mississippi 1929-1936," Working Papers 2014-09, American University, Department of Economics.

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