Credit rationing and crowding out during the industrial revolution: Evidence from Hoare's Bank, 1702-1862

Explorations in Economic History

Volumn 42, Issue 3, 2005, Pages 325-348

  Temin, Peter ^a   Voth, Hans Joachim ^a,b  

^a MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^b UNIVERSITAT POMPEU FABRA   (Spain)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 20344388769     PISSN: 00144983     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.eeh.2004.10.004     Document Type: Article

References (41)

1. D. Acemoglu S. Johnson et al. The colonial origins of comparative development American Economic Review 91 5 2001 1369-1401
2. Acemoglu, D., Johnson, S., et al., 2002. The rise of Europe: Atlantic trade, institutional changes and economic growth, NBER Working Paper w9378
3. P. Antràs H.-J. Voth Productivity growth and factor prices during the British Industrial Revolution Explorations in Economic History 40 1 2003 52-77
4. T.S. Ashton Economic Fluctuations in England, 1700-1800 1959 Clarendon Press Oxford
5. T.S. Ashton The Industrial Revolution, 1760-1830 1968 Oxford UP London, New York
6. J. Brewer The Sinews of Power: War, Money and the English State, 1688-1783 1989 Alfred A. Knopf New York
7. G. Clark The political foundations of modern economic growth: England, 1540-1800 Journal of Interdisciplinary History 26 4 1996 563-588
8. G. Clark Debt, deficits, and crowding out: England, 1727-1840 European Review of Economic History 5 3 2001 403-436
9. N.F.R. Crafts British Economic Growth during the Industrial Revolution 1985 Oxford University Press Oxford
10. N.F.R. Crafts C.K. Harley Output growth and the british industrial revolution: A restatement of the Crafts-Harley view Economic History Review 45 4 1992 703-730
11. N.F.R. Crafts K. Harley Simulating the two views of the industrial revolution Journal of Economic History 60 3 2000 819-842
12. J.B. DeLong A. Shleifer Princes and merchants: City growth before the Industrial Revolution Journal of Law and Economics 36 2 1993 671-702
13. N. Ferguson The Cash Nexus: Money and Power in the Modern World, 1700-2000 2001 Basic Books New York
14. R.J. Gordon The "end-of-expansion" phenomenon in short-run productivity behavior Brookings Papers on Economic Activity 2 1979 447-461
15. C.K. Harley Reassessing the Industrial Revolution: A macro view In: J. Mokyr (Ed.), The British Industrial Revolution: An Economic Perspective 1999 Westview Press Boulder, CA
16. C.E. Heim P. Mirowski Interest rates and crowding-out during Britain's Industrial Revolution Journal of Economic History 47 1 1987 117-139
17. C.E. Heim P. Mirowski Crowding out: Response. [Interest rates and crowding-out during Britain's Industrial Revolution] Journal of Economic History 51 3 1991 701-706
18. P.T. Hoffman G. Postel-Vinay et al. Priceless Markets: The Political Economy of Credit in Paris, 1660-1870 2000 The University of Chicago Press Chicago
19. Jaffee, D., Stiglitz, J.E., 1990. Credit Rationing. In: Friedman, B.M., Hahn, F.H. (Eds.), Handbook of Monetary Economics, vol. 2. North-Holland, Amsterdam and New York, pp. 837-888
20. R. Koenker K.F. Hallock Quantile regression Journal of Economic Perspectives 15 4 2001 143-156
21. R. Levine S. Zervos Stock markets, banks, and economic growth American Economic Review 88 1998 537-558
22. P. Mirowski The rise (and retreat) of a market: English joint stock shares in the eighteenth century Journal of Economic History 41 3 1981 559-577
23. B.R. Mitchell Abstract of British Historical Statistics 1971 Cambridge University Press Cambridge
24. Joel. Mokyr Has the Industrial Revolution been crowded out? Some reflections on Crafts and Williamson Explorations in Economic History 24 3 1987 293-319
25. L. Neal The Rise of Financial Capitalism 1990 Cambridge University Press Cambridge
26. D. North B. Weingast Constitutions and commitment: The evolution of institutions governing public choice in seventeenth-century England Journal of Economic History 49 4 1989 803-832
27. Pressnell, L.S., 1956. Country Banking in the Industrial Revolution. Oxford
28. S. Quinn Goldsmith-banking: Mutual acceptance and interbanker clearing in restoration London Explorations in Economic History 34 4 1997 411-432
29. S. Quinn The glorious revolution's effect on English private finance: A microhistory, 1680-1705 Journal of Economic History 61 3 2001 593-615
30. R.G. Rajan L. Zingales Financial dependence and growth American Economic Review 88 3 1998 559-586
31. R.D. Richards The Early History of Banking in England 1929 PS King & Son London
32. Rousseau, P.L., Sylla, R., 2001. Financial Systems, Economic Growth, and Globalization, National Bureau of Economic Research Working Paper 8323: 31
33. Smith, A., 1982 [1776]. An Enquiry into the Nature and Causes of the Wealth of Nations. London
34. J.E. Stiglitz A. Weiss Credit rationing in markets with imperfect information American Economic Review 71 3 1999 393-410
35. Sussman, N., Yafeh, Y., 2002. Constitutions and commitment: Evidence on the relation between institutions and the cost of capital." unpublished manuscript, Hebrew University, Jerusalem
36. P. Temin Two views of the British Industrial Revolution Journal of Economic History 57 1 1997 63-82
37. P. Temin A response to Harley and Crafts Journal of Economic History 60 3 2000 842-846
38. Temin, P., Voth, H.-J., 2003. Banking as an Emerging Technology: Hoare's Bank 1702-1742. MIT Economics Department working paper
39. Temin, P., Voth, H.-J., 2004. Riding the South Sea Bubble. American Economic Review 93 (5), forth coming
40. J.G. Williamson "Why was British growth so slow during the Industrial Revolution?" Journal of Economic History 44 3 1984 687-712
41. J.G. Williamson Has crowding out really been given a fair test? A comment [interest rates and crowding-out during Britain's Industrial Revolution] Journal of Economic History 47 1 1987 214-215