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There is a substantial literature arguing that financial development contributes to economic growth. In this paper, we contribute to this literature by examining the effect of state-level banking regulation on financial development and economic growth in the United States from 1900 to 1940....
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(1700-1850), the United States (1790-1850), and Japan (1880-1913) suggests that the emergence of financial instruments …
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formal quantitative analysis. We begin with studies of the Dutch Republic, England, the U.S., France, Germany and Japan that …
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