Annual EBHS Conference, 39th Annual Economic and Business History Society Conference

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Financing California
Lynne Pierson Doti

Last modified: 2014-03-10


Financing California explores changes in financing in the state which may have contributed to the beginning or end of business and real estate cycles. Its large size and varied economy make California an excellent test subject for theories about financial markets. California developed almost entirely in historical times and has had both a largely free market environment for capital and unique regulations. Unlike most studies of financial markets, data sources for this paper include the records of various state regulatory authorities, federal data sources, and previously published material. Data is included for commercial banks, savings banks, savings and loan institutions and building and loan societies to determine both the sources of funding and how those sources developed in relation to the business and real estate cycles from the earliest years to 2008.