The Business Cycle and Entry into Early American Banking
运用研究制造业进入的新方法，分析19世纪美国金融市场进入时机，发现商业周期和市场特征对银行进入有重要影响。
The conditions of entry have been the focus of a large and growing number of theoretical and empirical studies. Several recent papers have developed new techniques for the study of entry into manufacturing industries. This paper finds those same techniques useful for the study of entry into early American financial markets. Market characteristics commonly found to influence the rate of industrial entry, as well as the course of the business cycle, are found to be important in the timing of entry into nineteenth-century financial markets. Copyright 1993 by MIT Press.