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Regulation, taxation and the development of the German universal banking system, 1884-1913

Fohlin, Caroline (2002) Regulation, taxation and the development of the German universal banking system, 1884-1913. European Review of Economic History, 6 (2). pp. 221-254. ISSN 1361-4916. doi:10.1017/S1361491602000096. https://resolver.caltech.edu/CaltechAUTHORS:20170816-152657553

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Abstract

Previous researchers argue that the legal and regulatory environment helped shape the German financial system in the nineteenth and early-twentieth centuries, with particular emphasis on the damaging effects of the stock exchange law of 1896. This article finds that the stock exchange law of 1896 exerted little measurable impact on the growth and concentration of the universal banking system or on the business turnover of universal banks relative to securities markets. The article also shows that the English commercial banking sector and the German universal banking sector underwent similar movements toward concentration between 1884 and 1920 (both accelerating after 1912), despite no corresponding regulatory changes in England — further suggesting that consolidation of universal banking resulted from factors other than the 1896 law.


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https://doi.org/10.1017/S1361491602000096DOIArticle
https://academic.oup.com/ereh/article-abstract/6/2/221/549397/Regulation-taxation-and-the-development-of-the?redirectedFrom=fulltextPublisherArticle
http://resolver.caltech.edu/CaltechAUTHORS:20170808-145300983Related ItemWorking Paper
ORCID:
AuthorORCID
Fohlin, Caroline0000-0002-1380-2788
Additional Information:© 2002 Cambridge University Press. Published: 01 August 2002.
Issue or Number:2
DOI:10.1017/S1361491602000096
Record Number:CaltechAUTHORS:20170816-152657553
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20170816-152657553
Official Citation:Caroline Fohlin; Regulation, taxation and the development of the German universal banking system, 1884–1913, European Review of Economic History, Volume 6, Issue 2, 1 August 2002, Pages 221–254, https://doi.org/10.1017/S1361491602000096
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:80511
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:16 Aug 2017 23:30
Last Modified:15 Nov 2021 19:36

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