Hidden in plain sight: Correspondent banking in the 1930s

We present novel quantitative evidence on the number and location of correspondent banking relationships in the 1930s, a neglected area of international banking. Our data, collected from Thomas Skinners’ Bankers’ Almanac, captures over 2000 correspondent banking connections primarily based on London and New York and a smaller cohort of multinational banks. We draw on the new institutional economics and international business literature to...