NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Market for American State Government Bonds in Britain and the United States, 1830-1843

Namsuk Kim, John Joseph Wallis

NBER Working Paper No. 10108
Issued in November 2003
NBER Program(s):   DAE

In the 1830s the British and American economies were hit by a series of shared macroeconomic shocks. This paper investigates the role of markets for Americas State bonds in Britain and the U.S. during and between the crises in 1837, 1839, and 1842. There is strong evidence that the crises in 1839 and 1842 originated in the U.S. and spread to Britain. There is also strong evidence that credit markets for American state bonds were tighter in the U.S. than in London between 1839 and 1842.

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Document Object Identifier (DOI): 10.3386/w10108

Published: Kim, Namsuk and John Joseph Wallis. "The Market For American State Government Bonds In Britain And The United States, 1830-43," Economic History Review, 2005, v58(3,Aug), 736-764.

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