Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Insider Lending: Banks, Personal Connections, and Economic Development in Industrial New England

Insider Lending: Banks, Personal Connections, and Economic Development in Industrial New England

Lamoreaux, Naomi

Paperback

Series: NBER Series on Long-Term Factors in Economic Development

AccountingEconomicsManagement

ISBN10: 052156624X
ISBN13: 9780521566247
Publisher: Cambridge University Press
Published: Aug 28 1996
Pages: 194
Weight: 0.66
Height: 0.63 Width: 6.00 Depth: 8.97
Language: English
Today the term insider lending conveys an aura of abuse and corruption, of unethical, if not illegal, behavior. In early nineteenth century New England, however, insider lending was an integral aspect of the banking system. Not only was the practice an accepted fact of economic life, but, as Naomi R. Lamoreaux argues, it enabled banks (at least in this particular historical context) to play an important role in financing economic development. As the banking system evolved over the course of the century, however, lending practices became more impersonal and professional.

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