Insider Lending: Banks, Personal Connections, and Economic Development in Industrial New England (NBER Series on Long-Term Factors in Economic Development) Book + PRICE WATCH * Amazon pricing is not included in price watch

Insider Lending: Banks, Personal Connections, and Economic Development in Industrial New England (NBER Series on Long-Term Factors in Economic Development) Book

Insider lending was an integral aspect of the banking system in early nineteenth century New England. Not only was the practice an accepted fact of economic life, but as this text argues, it enabled banks to play an important role in financing economic development.Read More

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  • Product Description

    Today the term "insider lending" conveys an aura of abuse and corruption, of unethical, if not illegal, behavior. In early nineteenth century New England, however, insider lending was an integral aspect of the banking system. Not only was the practice an accepted fact of economic life, but, as Naomi R. Lamoreaux argues, it enabled banks (at least in this particular historical context) to play an important role in financing economic development. As the banking system evolved over the course of the century, however, lending practices became more impersonal and professional.

  • 0521460964
  • 9780521460965
  • Naomi R. Lamoreaux
  • 24 June 1994
  • Cambridge University Press
  • Hardcover (Book)
  • 182
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