Central Bank of Nigeria Library

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The business of banking, 1891-1914 /

By: Material type: TextTextSeries: L.S.E. research monographsPublication details: London : Weidenfeld and Nicolson, c1972.Description: ix, 628 pISBN:
  • 0297003186
Subject(s): DDC classification:
  • 332.1'0942 GOO
LOC classification:
  • HG2988 .G63
Summary: This is a valuable book. The monthly series of some 16 banks' balance sheets, coupled with a rich tapestry of quotations from "Board Minutes" and "Chairman's' Annual Statements" provides a mine of new material with which to assess the operations of the UK Banking Sector over the 1891-1914 period. His main observation is that the money stock was demand and not supply determined, a finding which he supports by a number of empirical tests which he interprets as showing that the gold specie flow mechanism was inoperative or operated perversely over the period. Equilibrium between the internal and the external sector is shown to be achieved through the movements of interest rates and interest rate differentials in and between the main capital market centres.
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Holdings
Item type Current library Collection Call number Status Date due Barcode
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 332.1'0942 GOO (Browse shelf(Opens below)) Available 31008100149828

Includes index.

Includes bibliographical references: p. 613-619.

This is a valuable book. The monthly series of some 16 banks' balance sheets, coupled with a rich tapestry of quotations from "Board Minutes" and "Chairman's' Annual Statements" provides a mine of new material with which to assess the operations of the UK Banking Sector over the 1891-1914
period. His main observation is that the money stock was demand and not supply determined, a finding which he supports by a number of empirical tests which he interprets as showing that the gold specie flow mechanism was inoperative or operated perversely over the period. Equilibrium between the
internal and the external sector is shown to be achieved through the movements of interest rates and interest rate differentials in and between the main capital market centres.

rpm 07/05/2018

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