Wildcat bankers or political failure? : The Irish financial pantomime, 1797–1826
(2019) In European Review of Economic History 24(3). p.522-577- Abstract
- Using a new biography of banks, we examine the stability of Irish banking from 1797 to 1826 by constructing a failure rate series. We find that the ultimate cause of the frequent and severe banking crises was the crisis-prone structure of the banking system, which was designed to benefit the political elite. There is little evidence to suggest that wildcat banking or the failure of the Bank of Ireland to act as a lender of last resort were to blame. We also find that the main economic effect of the episodic crises was major diminutions in the money supply.
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https://lup.lub.lu.se/record/57f1dee7-efd5-4f53-bfad-4ae7d080b650
- author
- Kenny, Sean LU and Turner, John D.
- organization
- publishing date
- 2019-12-08
- type
- Contribution to journal
- publication status
- published
- subject
- keywords
- Banking stability, Political economy, Private banks, Ireland, Banking crises
- in
- European Review of Economic History
- volume
- 24
- issue
- 3
- article number
- hez010
- pages
- 56 pages
- publisher
- Oxford University Press
- external identifiers
-
- scopus:85092321212
- ISSN
- 1474-0044
- DOI
- 10.1093/ereh/hez010
- language
- English
- LU publication?
- yes
- id
- 57f1dee7-efd5-4f53-bfad-4ae7d080b650
- date added to LUP
- 2020-06-10 10:15:02
- date last changed
- 2022-04-18 22:48:56
@article{57f1dee7-efd5-4f53-bfad-4ae7d080b650, abstract = {{Using a new biography of banks, we examine the stability of Irish banking from 1797 to 1826 by constructing a failure rate series. We find that the ultimate cause of the frequent and severe banking crises was the crisis-prone structure of the banking system, which was designed to benefit the political elite. There is little evidence to suggest that wildcat banking or the failure of the Bank of Ireland to act as a lender of last resort were to blame. We also find that the main economic effect of the episodic crises was major diminutions in the money supply.}}, author = {{Kenny, Sean and Turner, John D.}}, issn = {{1474-0044}}, keywords = {{Banking stability; Political economy; Private banks; Ireland; Banking crises}}, language = {{eng}}, month = {{12}}, number = {{3}}, pages = {{522--577}}, publisher = {{Oxford University Press}}, series = {{European Review of Economic History}}, title = {{Wildcat bankers or political failure? : The Irish financial pantomime, 1797–1826}}, url = {{http://dx.doi.org/10.1093/ereh/hez010}}, doi = {{10.1093/ereh/hez010}}, volume = {{24}}, year = {{2019}}, }