TY  - JOUR
AU  - Bordo,Michael D.
AU  - Rockoff,Hugh
AU  - Redish,Angela
TI  - A Comparison of the United States and Canadian Banking Systems in the   Twentieth Century: Stability vs. Efficiency?
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 4546
PY  - 1996
Y2  - October 1996
UR  - http://www.nber.org/papers/w4546
L1  - http://www.nber.org/papers/w4546.pdf
N1  - Author contact info:
Michael D. Bordo
Department of Economics
Rutgers University
New Jersey Hall
75 Hamilton Street
New Brunswick, NJ 08901
Tel: 732/822-7152
Fax: 732/932-7416
E-Mail: bordo@econ.rutgers.edu

Hugh Rockoff
Department of Economics
75 Hamilton Street
Rutgers University
College Avenue Campus
New Brunswick, NJ  08901-1248
Tel: 609/897-0117
Fax: 732/932-7416
E-Mail: rockoff@fas-econ.rutgers.edu

Angela Redish
Dept. of Economics
University of British Columbia
#997 1873 East Mall
Vancouver BC V6T 1Z1 CANADA
E-Mail: anji@econ.ubc.ca
AB  - This paper asks whether the vaunted comparative stability of the Canadian banking system has been purchased at the cost of creating an oligopoly.  We assembled a data set that compares bank failures, lending rates, interest paid on deposits and related variables over the period 1920 to 1980.  Our principal findings are that: (1) interest rates paid on deposits were generally higher in Canada; (2) interest income received on securities was generally slightly higher in Canada; (3) interest rates charged on loans were generally quite similar; (4) net rates of return to equity were generally higher in Canada than in the U.S..
ER  -