Economopoulos, Andrew; O'Neill, Heather - In: Journal of Money, Credit and Banking 27 (1995) 4, pp. 1071-85
A recent study by Kenneth Ng (1988) challenges the view the free banking laws lowered barriers to entry. The authors' study examines bank entry and capital formation in free and nonfree banking states during the free banking period. A competitive model is developed and used to test if barriers...