Fragile by Design: The Political Origins of Banking Crises and Scarce Credit (Hardcover) (ISBN-13: 9780691155241)

Why stable banking systems are so rare

Why are banking systems unstable in so many countries--but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households.

Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues.

Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

Author: Charles W. Calomiris, Stephen Haber
ISBN-10: 0691155240
ISBN-13: 9780691155241
Publisher: Princeton University Press
Language: English
Published: 02/23/2014
Pages: 432
Format: Hardcover
Weight: 2.06lbs
Size: 9.31h x 6.40w x 1.44d
Award: PROSE - Winner

Review Citation(s):
Publishers Weekly 12/23/2013
New York Times Book Review 04/13/2014 pg. 22
New York Times Book Review 04/20/2014 pg. 26
Choice 08/01/2014