This paper investigates whether high borrowing costs deterred investment in sanitation infrastructure in late nineteenth-century Britain. Town councils had to borrow to fund investment, with considerable variation in interest rates across towns and over time. Panel regressions, using annual data...

In our paper we attempt to present the early phase in the history of Hungary's banking supervision, from the second half of the 19th century until the early 20th century, i.e. up to and including the establishment of the Pénzintézeti Központ (1916). As a consequence of the peculiar...

On the occasion of the centenary of the Pénzintézeti Központ's establishment in 1916 as the first integrated supervisory “top-level organisation”, this study endeavours to outline the historical background and the stages of the formation of the institution, starting in the second half of...

The relationship of companies in the maritime economy to banks has been neglected by researchers. While this is surprising, specific financing techniques in ship financing can be found. In addition, the topic has a high degree of currency: the relationship of shipping companies and shipyards to...

This paper is based on the difference between the formal introduction of a Weberian bureaucracy and its actual implementation through state officials. This difference between the formal institutional framework and its actual implementation could lead to failed reforms. On the other side, there...