drying up of liquidity. Financial firms raise short-term debt in order to finance asset purchases. When asset fundamentals …

restricting the development of finance. States that had higher land concentration passed more restrictive banking legislation. At …. Banks were especially scarce both when landed elites' incentive to suppress finance, as well as their ability to exercise …

when landed elites' incentive to suppress finance, as well as their ability to exercise local influence, was higher … interest rates and lower loan to value ratios, consistent with more restricted access to finance. Interestingly, counties with …