A01=Richard S. Grossman
Account (accountancy)
Asset
Author_Richard S. Grossman
Balance sheet
Bank
Bank Act (Canada)
Bank Capital
Bank failure
Bank of Canada
Bank of England
Bank of Japan
Bank of New South Wales
Bank run
Banking Code
Banknote
Baring crisis
Capital requirement
Cash
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Central bank
City of Glasgow Bank
Commercial bank
Corporate action
Credit (finance)
Creditor
Currency
Currency crisis
Debt
Deposit account
Deposit insurance
Developed country
Economic growth
Economic interventionism
Economics
Economy
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eq_business-finance-law
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Expense
Finance
Financial crisis
Financial institution
Financial services
Government debt
Inflation
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Investment
Investment banking
Investor
Joint-stock company
Lender of last resort
Liability (financial accounting)
Limited liability
Market liquidity
Monetary policy
Money market
Money supply
Nationalization
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Political economy
Private bank
Private banking
Profit (economics)
Provision (accounting)
Recession
Regional bank
Reichsbank
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Tax
World War II
Product details
- ISBN 9780691139050
- Weight: 680g
- Dimensions: 152 x 229mm
- Publication Date: 27 Jun 2010
- Publisher: Princeton University Press
- Publication City/Country: US
- Product Form: Hardback
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Commercial banks are among the oldest and most familiar financial institutions. When they work well, we hardly notice; when they do not, we rail against them. What are the historical forces that have shaped the modern banking system? In Unsettled Account, Richard Grossman takes the first truly comparative look at the development of commercial banking systems over the past two centuries in Western Europe, the United States, Canada, Japan, and Australia. Grossman focuses on four major elements that have contributed to banking evolution: crises, bailouts, mergers, and regulations. He explores where banking crises come from and why certain banking systems are more resistant to crises than others, how governments and financial systems respond to crises, why merger movements suddenly take off, and what motivates governments to regulate banks. Grossman reveals that many of the same components underlying the history of banking evolution are at work today. The recent subprime mortgage crisis had its origins, like many earlier banking crises, in a boom-bust economic cycle.
Grossman finds that important historical elements are also at play in modern bailouts, merger movements, and regulatory reforms. Unsettled Account is a fascinating and informative must-read for anyone who wants to understand how the modern commercial banking system came to be, where it is headed, and how its development will affect global economic growth.
Richard S. Grossman is professor of economics at Wesleyan University and a visiting scholar at the Institute for Quantitative Social Science at Harvard University.
