Fragile by Design
eBook - ePub

Fragile by Design

The Political Origins of Banking Crises and Scarce Credit

  1. 584 pages
  2. English
  3. ePUB (mobile friendly)
  4. Available on iOS & Android
eBook - ePub

Fragile by Design

The Political Origins of Banking Crises and Scarce Credit

About this book

Why stable banking systems are so rare

Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households.

Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues.

Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

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Yes, you can access Fragile by Design by Charles W. Calomiris,Stephen Haber in PDF and/or ePUB format, as well as other popular books in Economics & Banks & Banking. We have over one million books available in our catalogue for you to explore.
INDEX
Page numbers for entries occurring in figures are followed by an f and those for entries in notes, by an n.
AAA. See Agricultural Adjustment Administration
Acharya, Viral V., 243–44, 252
ACORN. See Association of Community Organizations for Reform Now
Adams, John, 157
adjustable-rate mortgages (ARMs), 240, 254, 255
African National Congress, 457
Agarwal, Sumit, 224
agency problem, 31n6, 494
agrarian interests, 186. See also agriculture; real estate lending
agrarian populism: in Canada, 301–2, 308–9, 311–13, 488; countries avoiding coalitions with unit bankers, 455, 456–57, 458; in Mexico, 359, 360; in United States, 157–58, 488, 491. See also populism
agrarian populist-unit banker coalition (U.S.): colonial origins of, 155–57; demise of, 195–202, 203; influence of, 154, 171–72, 175, 180, 297, 488; opposition to national banks, 168; success of, 191, 194–95; support of unit banks, 182–83
Agricultural Adjustment Administration (AAA), 193
agriculture: in Brazil, 407–8, 419, 423; loans, 81, 193; in Mexico, 350, 359–60; New Deal programs for, 193; prices, 188, 193, 198, 200; seasonal credit demand in, 307, 307n38
ahistorical reasoning, 485–86
AIG, 204, 276
Albany Regency, 169–70
Allende, Salvador, 473–74
Althorp, Lord, 117
American Bankers Association, 182, 190
American Revolution, 109, 160–61, 160n12, 334–35
anarchists, 131n63
Andrukonis, David, 240–42
annuities, 66
Argentina: banking crises in, 6, 458; political institutions of, 458
ARMs. See adjustable-rate mortgages
asset-backed securities, 262–63. See also mortgage-backed securitie...

Table of contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Dedication Page
  5. Contents
  6. Preface
  7. Section One: No Banks without States, and No States without Banks
  8. Section Two: The Cost of Banker-Populist Alliances: The United States versus Canada
  9. Section Three: Authoritarianism, Democratic Transitions, and the Game of Bank Bargains
  10. Section Four: Going beyond Structural Narratives
  11. References
  12. Index