The Capital Market in the 1850s
(1734 K)
|
NBER Historical Working Paper No. 11
Issued in December 1990
NBER Program(s): DAE
This paper brings together data from a variety of sources to create a portrait of net rates of return to capital in banking in the 1850s. The primary purpose is to provide estimates comparable to those developed by Lance Davis and many subsequent researchers for the post-bellum period. The conclusion that emerges is that the capital market in the developed regions of the U.S. was fairly well integrated in the 1850s, and that part of the wide divergence in rates observed in the 1870s was due to the disruptions caused by the Civil War.
This paper is available as PDF (1734 K) or via email.
Machine-readable bibliographic record -
MARC,
RIS,
BibTeX
|
|
|
About
Support
The research activities of the NBER are funded by grants from federal research agencies, by private foundations, and by generous donations from our corporate associates and from private individuals. The NBER is a non-profit, 501(c)(3) organization. For information on supporting the NBER, please contact:
Mr. Denis Healy, Director of Development
NBER
1050 Massachusetts Avenue
Cambridge, MA 02138-5398
ph: 617-868-3900
email: dhealy@nber.org
Close
