Publication of the week:

PROFESSOR GEOFFREY WOOD

Friday 23 February 2007

Forrest H. Capie and Geoffrey E. Wood (eds). The Lender of Last Resort. Oxford: Routledge, 2007. ISBN: 978-0-415-32333-8.

Quite simply, a lender of last resort is an institution willing to extend credit when no one else will. The lender of last resort serves to protect depositors, prevent widespread panic withdrawal, and otherwise avoid damage to the economy caused by the collapse of an institution.

This book, edited by two of the world's leading financial historians, collects together classic and modern research on the lender of last resort. It represents an authoritative, comprehensive account of the history of the concept and practice of this topic. With a wide variety of contributions, the book offers a full analysis which will be of great use to students and academics of financial history as well as financial institutions themselves.

Forrest H. Capie is Professor of Economic History at Cass Business School, City University, London, UK, and is currently writing the history of the Bank of England.

Geoffrey E. Wood is Professor of Economics at Cass Business School and Professor of Monetary Economics at the University of Buckingham. He has kindly donated a copy of the book to the University Library.

This book and The Structure of Financial Regulation are both published as part of the Routledge International Studies in Money and Banking series.