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Enterprise and Society Advance Access originally published online on October 18, 2006
Enterprise and Society 2006 7(4):653-665; doi:10.1093/es/khl047
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© The Author 2006. Published by Oxford University Press on behalf of the Business History Conference. All rights reserved. For permissions, please e-mail: journals.permissions@oxfordjournals.org.

Political Economy of Financial Development: Canada and the United States in the Mirror of the Other, 1790–1840

Richard Sylla

RICHARD SYLLA is Henry Kaufman professor of the History of Financial Institutions and Markets, and professor of Economics at the Stern School of Business, New York University, and Research Associate, National Bureau of Economic Research. Contact information: Department of Economics, Stern School, NYU, 44 W. 4th Street, New York, NY 10012, USA. E-mail: rsylla@stern.nyu.edu.

The first 150 words of the full text of this article appear below.

A meeting of the Business History Conference in Toronto with "The Political Economy of Enterprise" as its theme provides an opportunity to consider some historical similarities and differences between the climates of enterprise in Canada and the United States. Because much of my recent work has been on financial development in the United States in the early decades, 1790–1840, I shall focus on that period. During that period, finance, enterprise, and economic development in the United States made great strides. Across the border in British North America, progress in all three areas was limited. The contrast sheds some light on the political conditions that favor financial development, flourishing enterprise, and modern economic growth.

Although Canada and the United States are two large and neighboring economies in North America, their histories are seldom compared, at least by American scholars. One reason is that Americans sometimes contend that U.S. history is so . . . [Full Text of this Article]


   South of the Border: Hamilton and the U.S. Financial Revolution, 1789–1795
 

   North of the Border: A Divided Canada Lags Behind the United States
 

   Conclusion
 

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