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The Universal Banks and the Mobilization of Capital in Imperial Germany

Fohlin, Caroline (1997) The Universal Banks and the Mobilization of Capital in Imperial Germany. Social Science Working Paper, 1008. California Institute of Technology , Pasadena, CA. (Unpublished)

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Capital mobilization represents a serious obstacle to industrialization. By stimulating savings, matching savers and investors, and offering advice to entrepreneurs, universal banks are believed to have eased such problems during the later stages of the German industrialization. Using evidence on deposit taking, branching, and banks' liability structure as well as the extent of interlocking directorates between banks and industrial companies, this paper demonstrates that the universal banks played a limited part in capital mobilization and expansion until the start of the twentieth century. The paper shows, however, that networks of the provincial banks enveloped a broad range of industrial companies.

Item Type:Report or Paper (Working Paper)
Fohlin, Caroline0000-0002-1380-2788
Additional Information:I am grateful to Phil Cottrell, Lance Davis, John Latting, Peter Temin, and Dieter Ziegler as well as to participants in the Berkeley conference on Finance and the Making of Modern Capitalism for helpful comments and discussions. This research was funded in part by the NSF.
Group:Social Science Working Papers
Funding AgencyGrant Number
Series Name:Social Science Working Paper
Issue or Number:1008
Record Number:CaltechAUTHORS:20170814-152243289
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:80381
Deposited By: Jacquelyn Bussone
Deposited On:14 Aug 2017 22:42
Last Modified:03 Oct 2019 18:30

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