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The October Crash of 1929 and the NYSE Credit System

In: The Great Crash of 1929

Author

Listed:
  • Ali Kabiri

    (University of Buckingham)

Abstract

In this chapter we look at the crash in October 1929 — where stock prices fell by 45 per cent over the last weeks of October — the credit system that developed around the NYSE, and the policy of the Federal Reserve Board towards the boom. What we will see is that an unusual credit system developed to circumvent the Federal Reserve Board’s policy to stop the boom, following the fears of credit growth that they had expressed in 1927 and earlier.

Suggested Citation

  • Ali Kabiri, 2014. "The October Crash of 1929 and the NYSE Credit System," Palgrave Studies in the History of Finance, in: The Great Crash of 1929, chapter 5, pages 145-173, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-1-137-37289-5_6
    DOI: 10.1057/9781137372895_6
    as

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