Document Type

Working Paper

Date of this Version



Dr. Angelo Riva, Dr. Elisa Grandi, Dr. Simone Marinesi


Banking crises have never failed to mark the history of countries around the globe as they are key components of any economy. Relative to the other countries of continental Europe, France experienced an early development of its financial institutions which is attributed to its early industrialization. A shift in the nature of banking crises was observed in France around 1895, and the project seeks to study the change in banking networks and its role in the stabilization of the French banking system.

France experienced a major credit crisis in 1930-1931. However, the extent and implications of this crisis were never evaluated empirically due to an absence of information and data since there was no banking regulation at the time. Although the big banks were relatively untouched during the crisis, new data from 400 small banks shows the rest of the banking system underwent two waves of panic: one towards the end of 1930 and one towards the end of 1931. The current project seeks to expand on the analysis of the past research on bank crisis using the relatively new ‘interlocking directorates’ technique.

Examining interlocking directorates focuses on the relationships between financial banks, insurances, industrial firms, and other sectors in France across metropolitan, colonial, and foreign regions. The rationale of studying interlocking directorates within the French banking system is based on various advantages and disadvantages with asymmetries of information issues.


Interlocking directorates, directorates, economics, stocks, France, banking, credit crises, banking crises, crises, networks, network analysis

Additional Files

WRAP Poster PSE 2020 - Fabio Tessiore.pdf (1861 kB)



Date Posted: 11 November 2020


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