TY - JOUR
T1 - A Reinterpretation of the Banking Crisis of 1930
AU - White, Eugene Nelson
N1 - Funding Information:
The author is Assistant Professor of Economics, Rutgers University, New Brunswick, New Jersey 08903. For comments on earlier drafts of this paper, he is particularly grateful to: Lee Alston, Jeremy Atack, Ben Beraanke, David Crawford, M. Anne Hill, Larry Neal, Hugh Rockoff, Richard Sylla, Peter Temin, Hiroki Tsurumi, Elmus Wicker, and the participants of seminars at Columbia University, Indiana University, the University of Chicago, the University of Illinois, and the 1983 Cliometrics Conference. Financial assistance has been provided by a Rutgers University Research Council FASP grant.
PY - 1984/3
Y1 - 1984/3
N2 - The banking crisis of 1930 is one of the central events of the Great Depression. The causes of this wave of bank failures are examined using individual bank balance sheet data. Both real and monetary factors are found to have forced the closure of banks, many of which were already weakened by regulatory constraints and regional economic difficulties. The bank failures in this crisis do not seem to have been different in character from failures in previous years, suggesting that the rise in the number of failures may have marked only the beginning of a recession rather than a depression.
AB - The banking crisis of 1930 is one of the central events of the Great Depression. The causes of this wave of bank failures are examined using individual bank balance sheet data. Both real and monetary factors are found to have forced the closure of banks, many of which were already weakened by regulatory constraints and regional economic difficulties. The bank failures in this crisis do not seem to have been different in character from failures in previous years, suggesting that the rise in the number of failures may have marked only the beginning of a recession rather than a depression.
UR - https://www.scopus.com/pages/publications/84974073976
UR - https://www.scopus.com/pages/publications/84974073976#tab=citedBy
U2 - 10.1017/S0022050700031405
DO - 10.1017/S0022050700031405
M3 - Article
AN - SCOPUS:84974073976
SN - 0022-0507
VL - 44
SP - 119
EP - 138
JO - The Journal of Economic History
JF - The Journal of Economic History
IS - 1
ER -