The effects of reconstruction finance corporation assistance on Michigan's banks' survival in the 1930s

B-Tier
Journal: Explorations in Economic History
Year: 2013
Volume: 50
Issue: 4
Pages: 526-547

Authors (4)

Calomiris, Charles W. Mason, Joseph R. (not in RePEc) Weidenmier, Marc (not in RePEc) Bobroff, Katherine (not in RePEc)

Score contribution per author:

0.503 = (α=2.01 / 4 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

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Abstract

We examine the effects of the Reconstruction Finance Corporation's (RFC) loan and preferred stock programs on bank failure rates in Michigan during the period 1932–1934, which includes the important Michigan banking crisis of early 1933 and its aftermath. Using a new database on Michigan banks, we employ probit and survival duration analysis to examine the effectiveness of the RFC's loan program (the policy tool employed before March 1933) and the RFC's preferred stock purchases (the policy tool employed after March 1933) on bank failure rates.

Technical Details

RePEc Handle
repec:eee:exehis:v:50:y:2013:i:4:p:526-547
Journal Field
Economic History
Author Count
4
Added to Database
2026-01-25