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- W1565189059 abstract "This article begins with a discussion of the affiliation between banking and commerce throughout American history. It finds that there were important occasions when banks were allowed to invest in nonfinancial firms and that restrictions on firms' investments in banks are a recent phenomenon. In comparing current U.S. regulations on the affiliation between banks and firms to those in force abroad, the article shows that foreign countries have much more liberal banking laws. The analysis of banks' investments in equities in those countries, however, shows that such investments represent a small fraction of banks' assets. The article ends with a brief review of the literature on the implications of banks' investments in firms." @default.
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- W1565189059 title "Banking and Commerce: How Does the United States Compare to Other Countries?" @default.
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