caa a22 4500 386329672 CHVBK 20180307111707.0 cr unu---uuuuu 161130e198903 xx s 000 0 eng 10.1017/S0022050700007348 doi S0022050700007348 pii (NATIONALLICENCE)cambridge-10.1017/S0022050700007348 Capital Mobilization and Southern Industry, 1880-1905: The Case of the Carolina Piedmont [Elektronische Daten] As the American South commenced its modern industrialization in the late nineteenth century, it found itself handicapped not simply by its poverty, but also by its lack of institutionalized means for mobilizing investment capital for manufacturing. Using evidence from the first major southern manufacturing region, the Carolina Piedmont, we argue that the resulting high information and transactions costs forced industrial promoters to rely heavily upon small, local investors who preferred safety to innovation. As a result, southern manufacturing firms were hampered in their flexibility, and southern industrial structure was skewed toward mature industries with little developmental potential. Copyright © The Economic History Association 1989 Carlton David L. Assistant Professor of History, Vanderbilt University, Nashville, TN 37235 Coclanis Peter A. Assistant Professor of History, University of North Carolina, Chapel Hill, NC 27599 The Journal of Economic History Cambridge University Press 49/1(1989-03), 73-94 0022-0507 49:1<73 1989 49 JEH https://doi.org/10.1017/S0022050700007348 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S0022050700007348 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Carlton David L. Assistant Professor of History, Vanderbilt University, Nashville, TN 37235 NATIONALLICENCE 700 1- Coclanis Peter A. Assistant Professor of History, University of North Carolina, Chapel Hill, NC 27599 NATIONALLICENCE 773 0- The Journal of Economic History Cambridge University Press 49/1(1989-03), 73-94 0022-0507 49:1<73 1989 49 JEH CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge