Talk:Australian banking crisis of 1893
This crisis is also not very clear. This says the following:
- "...according to Kevin Dowd (1992) was a unique experience of a major banking collapse (1893) within a free-banking system9. Rather than being a consequence of a lightly regulated banking system, Dowd argues that this crisis was the result of a real supply shock and Government intervention. A quite different explanation is proposed in two recent papers by Hickson and Turner (2002, 2004). They argue that the crisis could have been avoided if the banks had been more regulated. The lack of regulation resulted in low capital and cash and banks over-holding risky assets."
The sources in question are, in case anybody wants to go for it:
- Dowd, Kevin, 1992. Australian Free Banking. In The Experience of Free Banking, ed. Kevin Dowd. London: Routledge.
- Hickson, Charles and Jhon Turner. 2002. Free Banking Gone Awry: The Australian Banking Crisis of 1893. Financial History Review 9(2): 147-167.
- _____. 2004. Free Banking and the Stability of Early Joint-Stock Banking. Cambridge Journal of Economics 9(6): 903-919.
There also Dowd's 1992 "The Experience of free banking" linked as a Google Book, but it would be better to have the whole thing. The Hickson and Turner "Free banking gone awry: the Australian banking crisis of 1893" would be good to have as well. Good luck to anyone willing to sort it out! Pestergaines 05:55, 16 January 2011 (CST)