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| Tekijä: | Tilly, R. |
| Otsikko: | Universal banking in historical perspective |
| Lehti: | Journal of Institutional and Theoretical Economics
1998 : MAR, VOL. 154:1, p. 7-32 |
| Asiasana: | ECONOMICS BANKING HISTORY |
| Kieli: | eng |
| Tiivistelmä: | For the most part, the business of banking takes place in an asymmetric-information environment. As a result, solutions to many banking problems are inherently unstable. Bank runs are a prominent example of such an instability. In order to minimize the instability impact on the banking system, regulations of the banking business are implemented. This regulation takes many forms. In this paper, the author will focus on three aspects:(a)comparing universal banking and specialized banking; (b)subdividing the all-over period considered; and (c)comparing historical and economic interpretation. |
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