The Emergence of a Capital Market in Rural Massachusetts, 1730–1838
利用遗嘱认证数据，检验了马萨诸塞州农村地区在18世纪80年代早期出现区域资本市场的证据，这对新英格兰工业化至关重要。
This study is part of a continuing effort to document and date the emergence of a market economy in rural Massachusetts. It uses a probate data base to test for evidence of increased portfolio liquidity, decreased transactions costs, and the appearance of developmental institutional change. A regional capital market, so critical for the industrialization of New England, is found to have emerged in the early 1780s.