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Insider Lending: Banks, Personal Connections, and Economic Development in Industrial New England

by Naomi Lamoreaux
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Current price ₹4,573.00
Original price ₹4,606.00
Original price ₹4,606.00
Original price ₹4,606.00
(-1%)
₹4,573.00
Current price ₹4,573.00

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Book cover type: Paperback
  • ISBN13: 9780521566247
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Cambridge University Press
  • Publisher Imprint: Cambridge University Press
  • Publication Date:
  • Pages: 194
  • Original Price: USD 47.0
  • Language: English
  • Edition: Revised
  • Item Weight: 300 grams
  • BISAC Subject(s): Economic History

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.

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