Financial system
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Trends and innovations
From the early years of modern commercial history, the banks have been the core element of the financial system, and their relationship with their national governments have had a significant influence on its development. In the nineteenth and early twentieth centuries, it was essentially an arms-length relationship, but the price that the United States banking system paid in 1933 for its rescue from threatened extinction was a measure of regulation.
- ↑ Thomas Philippon and Ariell Reshef: Wages and Human Capital in the U.S. Financial Industry: 1909-2006, National Bureau of Economic Research, December 2008
- ↑ Financial Services Modernization Act, Summary of Provisions, US Senate Committee on Banking, Housing and Urban Affairs November 1999
- ↑ Cludio Borio and Renato Filosa: The Changing Borders of Banking, Bank for International Settlements, 1994
- ↑ The Long Demise of the Glass-Steagall Act, PBS, 8 May 2003
- ↑ Garn-St. Germain Depository Institutions Act, Answers.com
- ↑ Max Corden: Exchange Rate Policies and the Global Imbalances, Paper for James Meade Centenary Conference, Bank of England, July 2007