Bank Mergers in Late Nineteenth-Century New England: The Contingent Nature of Structural Change
- 1 September 1991
- journal article
- Published by Cambridge University Press (CUP) in The Journal of Economic History
- Vol. 51 (3), 537-557
- https://doi.org/10.1017/s0022050700039553
Abstract
Although New England's unit banking system was declining in profitability during the late nineteenth century, the existing competitive environment prevented large institutions from outperforming their smaller rivals. As a result, there was little change in the structure of the banking system during this period. At the turn of the century, however, a wave of mergers radically transformed the banking sectors of Boston and Providence. Although the greater profitability of the mergers indicates they were a better fit to the economic environment than their smaller predecessors, their creation was only made possible by a special combination of historical circumstances.Keywords
This publication has 6 references indexed in Scilit:
- Money and Capital Markets in Postbellum AmericaPublished by Walter de Gruyter GmbH ,2015
- Banks, Kinship, and Economic Development: The New England CaseThe Journal of Economic History, 1986
- Scale Economies in Banking: A Restructuring and ReassessmentJournal of Money, Credit and Banking, 1982
- Competition, Specialization, and Industrial DeclineThe Journal of Economic History, 1981
- Economies of Scale, Firm Size, and Concentration in BankingJournal of Money, Credit and Banking, 1972
- Economies of Scale of Financial InstitutionsJournal of Money, Credit and Banking, 1972