The Leading eBooks Store Online 4,138,907 members ⚫ 1,351,551 ebooks

New to

Learn more

Unsettled Account

The Evolution of Banking in the Industrialized World since 1800

Unsettled Account by Richard S. Grossman
Buy this eBook
US$ 57.50 US$ 52.33
(If any tax is payable it will be calculated and shown at checkout.)

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.

Princeton University Press; June 2010
407 pages; ISBN 9781400835256
Read online, or download in secure PDF format
Title: Unsettled Account
Author: Richard S. Grossman
  • News
Birdwatching at the Federal Reserve - OUPblog (blog)
Wed, 09 Dec 2015 02:44:06 -0800
Birdwatching at the Federal ReserveOUPblog (blog)Seven years ago this month the federal funds rate—a key short-term interest ...
Economic trends of 2015 - OUPblog (blog)
Wed, 06 Jan 2016 02:42:00 -0800
Economic trends of 2015OUPblog (blog)Economists are better at history than forecasting. This explains why financial journalists ...
Are ultra-low interest rates dangerous? - OUPblog (blog)
Wed, 04 Mar 2015 00:43:12 -0800
Are ultra-low interest rates dangerous?OUPblog (blog)Other short-term interest rates are similarly at rock-bottom levels, or ...