Financial crisis, contagion, and the British banking system between the world wars
In a globalised world, when financial crisis strikes, can countries which are well-integrated into the world financial system escape? Recent experience suggests not. In the early 1930s, Britain's openness at the centre of the world financial system left it vulnerable, particularly to the central European financial crisis. Yet there was no financial crisis in Britain in 1931, rather an exchange-rate crisis, and sterling left the exchange-rate regime of the gold exchange standard. The most important financial institutions, the joint-stock commercial banks, the central part of the payments system, remained robust and contributed to the stability of the British economy.
If 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.
Volume (Year): 53 (2011)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/FBSH20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/FBSH20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stefano Battilossi, 2009. "Did governance fail universal banks? Moral hazard, risk taking, and banking crises in interwar Italy -super-1," Economic History Review, Economic History Society, vol. 62(s1), pages 101-134, August.
- Mark Carlson, 2004.
"Are Branch Banks Better Survivors? Evidence from the Depression Era,"
Western Economic Association International, vol. 42(1), pages 111-126, January.
- Mark A. Carlson, 2001. "Are branch banks better survivors? Evidence from the Depression era," Finance and Economics Discussion Series 2001-51, Board of Governors of the Federal Reserve System (U.S.).
- N/A, 1984. "Economic Recovery in the 1930s," National Institute Economic Review, National Institute of Economic and Social Research, vol. 110(1), pages 85-85, November.
- Richard Tilly, 1998. "Universal Banking in Historical Perspective," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 154(1), pages 1-7, March.
- Bordo, Michael D. & Choudhri, Ehsan U. & Schwartz, Anna J., 2002. "Was Expansionary Monetary Policy Feasible during the Great Contraction? An Examination of the Gold Standard Constraint," Explorations in Economic History, Elsevier, vol. 39(1), pages 1-28, January.
- Michael D. Bordo & Ehsan U. Choudhri & Anna J. Schwartz, 1999. "Was Expansionary Monetary Policy Feasible During the Great Contraction? An Examination of the Gold Standard Constraint," NBER Working Papers 7125, National Bureau of Economic Research, Inc.
- Burk, Kathleen, 1989. "Morgan Grenfell 1838-1988: The Biography of a Merchant Bank," OUP Catalogue, Oxford University Press, number 9780198283065.
- Howson, Susan, 1980. "The Management of Sterling, 1932–1939," The Journal of Economic History, Cambridge University Press, vol. 40(01), pages 53-60, March.
- Richardson, Gary, 2007. "The Check is in the Mail: Correspondent Clearing and the Collapse of the Banking System, 1930 to 1933," The Journal of Economic History, Cambridge University Press, vol. 67(03), pages 643-671, September.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters,in: This Time Is Different: Eight Centuries of Financial Folly Princeton University Press.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, number 8973.
- Reinhart, Carmen, 2009. "The Second Great Contraction," MPRA Paper 21485, University Library of Munich, Germany.
- Grossman, Richard S., 1994. "The Shoe That Didn't Drop: Explaining Banking Stability During the Great Depression," The Journal of Economic History, Cambridge University Press, vol. 54(03), pages 654-682, September.
- Baker, Mae & Collins, Michael, 2010. "English Commercial Banks and Organizational Inertia: The Financing of SMEs, 1944–1960," Enterprise & Society, Cambridge University Press, vol. 11(01), pages 65-97, March.
- Milton Friedman & Anna J. Schwartz, 1963. "A Monetary History of the United States, 1867–1960," NBER Books, National Bureau of Economic Research, Inc, number frie63-1, December.
- Bernanke, Ben S, 1983. "Nonmonetary Effects of the Financial Crisis in Propagation of the Great Depression," American Economic Review, American Economic Association, vol. 73(3), pages 257-276, June.
- Ben S. Bernanke, 1983. "Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression," NBER Working Papers 1054, National Bureau of Economic Research, Inc.
- Collins, Michael & Baker, Mae, 2003. "Commercial Banks and Industrial Finance in England and Wales, 1860-1913," OUP Catalogue, Oxford University Press, number 9780199249862.
- Kobrak, Christopher, 2009. "Family Finance: Value Creation and the Democratization of Cross-Border Governance," Enterprise & Society, Cambridge University Press, vol. 10(01), pages 38-89, March.
- Accominotti, Olivier, 2012. "London Merchant Banks, the Central European Panic, and the Sterling Crisis of 1931," The Journal of Economic History, Cambridge University Press, vol. 72(01), pages 1-43, March.
- Reinhart, Karmen & Rogoff, Kenneth, 2009. ""This time is different": panorama of eight centuries of financial crises," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 77-114, March.
- Rajan, Raghuram G. & Zingales, Luigi, 2003. "The great reversals: the politics of financial development in the twentieth century," Journal of Financial Economics, Elsevier, vol. 69(1), pages 5-50, July.
- Richardson, Gary & Van Horn, Patrick, 2009. "Intensified Regulatory Scrutiny and Bank Distress in New York City During the Great Depression," The Journal of Economic History, Cambridge University Press, vol. 69(02), pages 446-465, June.
- Gary Richardson & Patrick Van Horn, 2008. "Intensified Regulatory Scrutiny and Bank Distress in New York City During the Great Depression," NBER Working Papers 14120, National Bureau of Economic Research, Inc.
- Capie, Forrest & Billings, Mark, 2004. "Evidence on competition in English commercial banking, 1920 1970," Financial History Review, Cambridge University Press, vol. 11(01), pages 69-103, April.
- Capie, Forrest & Billings, Mark, 2001. "Profitability in English banking in the twentieth century," European Review of Economic History, Cambridge University Press, vol. 5(03), pages 367-401, December. Full references (including those not matched with items on IDEAS)