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Empirical Studies on Bankers’ Wealth and Bank Balance Sheets

In: From Partisan Banking to Open Access

Author

Listed:
  • Qian Lu

    (Central University of Finance and Economics)

Abstract

This chapter studies the transition to open access from the economic perspective. Qian collects wealth data from Boston tax rolls between 1827 and 1859 and data on bank balance sheets from 1804 to 1861. The results show that in the era ofFree free banking de facto free bankingBanking free banking , bankers remained richer than other wealthy citizens, although the wealth inequality did not widen. Banks chartered in the free banking era were still politically connected, although their sizes were small. These results suggest that from the economic perspective, many bankers were still wealthy elites, and the banking sector was not owned by grassroots citizens.

Suggested Citation

  • Qian Lu, 2017. "Empirical Studies on Bankers’ Wealth and Bank Balance Sheets," Palgrave Studies in Economic History, in: From Partisan Banking to Open Access, chapter 0, pages 93-156, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-319-67645-6_5
    DOI: 10.1007/978-3-319-67645-6_5
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