Dedication. Preface. One: Introduction. Two: Theoretical Foundations. Three: A Theory of Change and a Framework for Analysis. Four: Economic Change 1960-2000. Five: Institutional Change 1960-2000. Six: Explaining Commercial Banking Reform. Epilogue: The Future of U.S. Commercial Banking. References. Appendix 1: Short-Term Interest Rates. Appendix 2: Income of Insured Commercial Banks and Trust Companies. Appendix 3: Financial Performance of Insured Commercial Banks and Trust Companies. Appendix 4: Federal Banking Legislation 1863-2000.
This book is a product of my commitment to developing both theory and practice in political economy. I first became interested in economic and institutional change in the commercial banking industry when I took a seminar on financial insti- tions led by Robert Glauber in the Kennedy School of Government at Harvard University in the spring of 1995. In my experience, Bob is one of a handful of teachers who has the verve to challenge and inspire both esoteric and practical inquiry: the seminar grappled with practical business and policy problems in a way that posed a significant challenge to existing theories. In addition to dem- strating the need to better integrate theory and practice, it provided a perspective and an approach that I continue to find useful in research, consulting, and teaching. Conducting the research for this study has taught me many things about banking, regulation, and policy making, and I am grateful to a very large number of people for their assistance. Bob Glauber continues to be generous in discussing the ch- lenges of change in the financial services industry.
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