Diss. Stockholm : Handelshögskolan, 2005.

Zugl.: Osnabrück, Univ., Diss., 2005

Univ., Diss.--Osnabrück, 2005.

Thesis (Ph. D. in Economics)--Vanderbilt University, Aug. 2010. / Title from title screen. Includes bibliographical references.

A novel set of long-term data on Swedish commercial banks in 1870–2001 is used to shed new light on some long-standing issues in money and banking. Essays 1 and 2 explore long-term changes in the leverage and profitability of the Swedish banking system, and inquire into the causes of their change. In particular, it is investigated whether inflation and high corporate taxes were the causes behind the increasing leverage of Swedish banks in the 20th century. Essays 3 to 5 describe the workings of the Swedish note-banking system in the late 19th century and compare its performance with the central-banking regime after 1904, when the Bank of Sweden gained a note monopoly. How does note monopolisation affect the elasticity of the currency, and how does it affect the size of money and credit cycles? These classical questions are tested empirically for the first time. / Diss. Stockholm : Handelshögskolan, 2005 S. 3-11: sammanfattning, s. 15-186: 5 uppsatser

Charles Goodhart. / Includes index. / Bibliography: p. [185]-194.

This work is the description of one importat chapter in American monetary history. Today, the existence of central monetary authority is the matter of course, as indispensable nessesity. This institution had its champions even in young United states and was fouded there according the example of the Bank of England. In spite of that, the wide political opposition was formed and Bank was eventualy dismantelet. How well was the monetary system of the young nation without its central autority? Thats the matter of debates and research, which is relevant even for today.

This dissertation examines the free banking laws of seven states and the impact of three provisions of the laws on the states' banking experience. In Chapter I, a review of two current theories of the free banking experience is presented. One theory contends that the laws themselves induced the banking experience of the states. The second theory asserts that economic activity induced the banking experience. This study includes a discussion of both theories in the analysis of the provision's effect on the banking experience. In Chapter II, a simple model of the operations of a free bank is presented. Also, the laws of the seven states that determine the establishment and the operations of a free bank are reviewed. The review reveals that the states enacted similar provisions, but restrictions included in the provisions differ considerably. In Chapter III, the experiences of the states are examined. The states represent a spectrum of banking experiences. The experiences of each state are characterized by four measures; the entry rate, the failure rate, the below par rate, and the average loss per dollar. Each of these measures reflects a different aspect of banking behavior and each is examined in order to determine the effect of the provision and the effect of economic activity on the behavior of the free banks. The analysis shows that both the provisions and the economic activity influence bank behavior. In Chapter IV, a theoretical analysis of the effect of the stockholders liability provision on entry and on the bank's portfolio is developed. The theory shows that an increase in the stockholders liability of a free bank reduces entry into the free banking market and increases the risky asset-capital ratio of the free bank. The testing of the theories is presented in Chapter V. The empirical evidence confirms the hypothesis that an increase in the liability of the stockholders increases the risky asset-capital ratio. The evidence does not confirm the hypothesis that an increase in the liability of the stockholder reduces entry. / Ph. D.

This diploma thesis attempts to explain the background of the origin of Islamic interest-free banking, where the first part of the thesis is devoted to the attitudes of ancient jurisdictions towards interest in the Old Testament and the Christian middle ages. It also tries to explain the basic principles of Islamic banking's functioning, the specific products it offers, and to show its position and practices in selected Muslim and European countries.

Thesis is dealing with the development of the central banking on the basis of experience from the last decade. Hypothesis is the statement, whether the central banks of the developed economies are increasingly less capable of the effective reactions on the accelerating development of the global economy and their position in the money emission and regulation of the banking sector is and will be more and more weakened by the alternative banking and monetary systems. This hypothesis is successfully disproved because of the behavior of the four chosen central banks which are CNB, FED, ECB and BoJ. The main reason was an increase in their activities and interventions causing among others multiplication of their balance sheets. On the other hand the alternative in the free banking is further from the reality than before. Virtual currencies also did not show threatening growth of the national currencies substitution in the reference period. Thesis also provides insight into new and potentially new instruments of the central banks.