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9781107436763

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'In the wake of the global credit crisis, what to do about financial markets is the question de jour. Caroline Fohlin shows that their operation and impact cannot be adequately understood without placing them in their historical context. Her rich analysis provides much needed perspective for scholars and policy makers alike.' Barry Eichengreen, University of California, Berkeley 'A debate about whether to restrict what banks can do rages in the wake of the recent financial crisis. In this volume, Fohlin provides a valuable long-term historical perspective to inform this debate by analyzing the evolution and consequences of different banking structures for economic development.' Randall S. Kroszner, Booth School of Business, University of Chicago 'When an academic discipline is in turmoil, as economics now is, focusing on the big questions often helps. The biggest question in economics is 'why are some nations rich and others poor?' In Mobilizing Money, Caroline Fohlin, a rising star in economic history, reminds us that the purpose of banking systems is to make countries, not just bankers, rich. This volume comprehensively and perceptively investigates the many different ways banks were regulated and run in different countries and in different historical periods, and how well they fulfilled their purpose. Hopefully, those charged with reregulating banks in the wake of the 2008 crisis will absorb its many lessons and insights.' Randall Morck, University of Alberta 'Mobilizing Money compares and contrasts the diverse ways in which banks and capital markets financed large-scale industrialization a century ago in Europe, America, and Japan. National financial systems differed, but economic growth outcomes were similar. Fohlin's findings can inform our current search for more perfect financial arrangements across the globe.' Richard Sylla, Stern School of Business, New York University

'In the wake of the global credit crisis, what to do about financial markets is the question de jour. Caroline Fohlin shows that their operation and impact cannot be adequately understood without placing them in their historical context. Her rich analysis provides much needed perspective for scholars and policy makers alike.' Barry Eichengreen, University of California, Berkeley 'A debate about whether to restrict what banks can do rages in the wake of the recent financial crisis. In this volume, Fohlin provides a valuable long-term historical perspective to inform this debate by analyzing the evolution and consequences of different banking structures for economic development.' Randall S. Kroszner, Booth School of Business, University of Chicago 'When an academic discipline is in turmoil, as economics now is, focusing on the big questions often helps. The biggest question in economics is 'why are some nations rich and others poor?' In Mobilizing Money, Caroline Fohlin, a rising star in economic history, reminds us that the purpose of banking systems is to make countries, not just bankers, rich. This volume comprehensively and perceptively investigates the many different ways banks were regulated and run in different countries and in different historical periods, and how well they fulfilled their purpose. Hopefully, those charged with reregulating banks in the wake of the 2008 crisis will absorb its many lessons and insights.' Randall Morck, University of Alberta 'Mobilizing Money compares and contrasts the diverse ways in which banks and capital markets financed large-scale industrialization a century ago in Europe, America, and Japan. National financial systems differed, but economic growth outcomes were similar. Fohlin's findings can inform our current search for more perfect financial arrangements across the globe.' Richard Sylla, Stern School of Business, New York University '... provocative and stimulating ... In Mobilizing Money, Fohlin contributes powerfully to an important moment in rethinking the history of financial systems.' Mark Loeffler, The Journal of Modern History

Author Information

Caroline Fohlin has served as Research Professor of Economics at The Johns Hopkins University, Baltimore, Maryland, since 2005. She previously taught at the California Institute of Technology from 1994 to 2004. Professor Fohlin's research has appeared in journals such as the Journal of Finance, the Journal of Economic History, the Review of Finance, Business History, Cliometrica, Explorations in Economic History and the Economic History Review. She is the author of Finance Capitalism and Germany's Rise to Industrial Power (Cambridge University Press, 2007) and is a research associate at the Center for Japan-US Business and Economic Studies at the Stern School of Business, New York University. Professor Fohlin gave the Bundesbank Lectures in Banking and Finance at the University of Freiburg in 2007 and received the DAAD Prize for Distinguished Scholarship in German and European Studies in 2005.

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