IDEAS home Printed from https://ideas.repec.org/a/cup/jechis/v62y2002i03p810-832_00.html
   My bibliography  Save this article

The Modernization Of Swedish Credit Markets, 1840–1905: Evidence From Probate Records

Author

Listed:
  • Lindgren, Håkan

Abstract

This study estimates the size of the so-called “informal,” or unintermediated, credit market in one Swedish city through a period of economic transformation. In the early 1840s promissory notes accounted for more than half of the total credit market, and almost four times the value of credit channeled through the banking system. Even in the 1870s, the promissory-note market was twice the size of the loan volume of the banking system. By 1905 bank-based credit had finally surpassed the informal variety; but even then, outstanding promissory notes were almost three-fifths as great as total bank credits to noncorporate borrowers.

Suggested Citation

  • Lindgren, Håkan, 2002. "The Modernization Of Swedish Credit Markets, 1840–1905: Evidence From Probate Records," The Journal of Economic History, Cambridge University Press, vol. 62(3), pages 810-832, September.
    • Handle: RePEc:cup:jechis:v:62:y:2002:i:03:p:810-832_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0022050702001092/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ogren, Anders, 2006. "Free or central banking? Liquidity and financial deepening in Sweden, 1834-1913," Explorations in Economic History, Elsevier, vol. 43(1), pages 64-93, January.
    2. Bengtsson, Erik & Missiaia, Anna & Olsson, Mats & Svensson, Patrick, 2017. "The Wealth of the Richest: Inequality and the Nobility in Sweden, 1750–1900," Lund Papers in Economic History 161, Lund University, Department of Economic History.
    3. Daniel Waldenström, 2016. "The national wealth of Sweden, 1810--2014," Scandinavian Economic History Review, Taylor & Francis Journals, vol. 64(1), pages 36-54, March.
    4. Falk, Marcus, 2023. "Consumption and Living Standards in Early Modern Rural Households: Probate Evidence from Southern Sweden, c. 1680-1860," Lund Papers in Economic History 254, Lund University, Department of Economic History.
    5. Ohlsson, Henry, 2011. "The legacy of the Swedish gift and inheritance tax, 1884–2004," European Review of Economic History, Cambridge University Press, vol. 15(3), pages 539-569, December.
    6. Hoffman, Philip T. & Postel-Vinay, Gilles & Rosenthal, Jean-Laurent, 2015. "Entry, information, and financial development: A century of competition between French banks and notaries," Explorations in Economic History, Elsevier, vol. 55(C), pages 39-57.
    7. Bengtsson, Erik & Svensson, Patrick, 2018. "The wealth of the Swedish peasant farmer class 1750–1900: Composition and distribution," Lund Papers in Economic History 177, Lund University, Department of Economic History.
    8. Y. Svetiev & E. Dermineur & U. Kolanisi, 2022. "Financialization and Sustainable Credit: Lessons from Non-Intermediated Transactions?," Journal of Consumer Policy, Springer, vol. 45(4), pages 673-698, December.
    9. Sebastian A.J. Keibek, 2016. "Correcting the probate inventory record for wealth bias," Working Papers 28, Department of Economic and Social History at the University of Cambridge, revised 21 Mar 2017.
    10. Blackwell, Timothy & Kohl, Sebastian, 2017. "Varieties of housing finance in historical perspective: The impact of mortgage finance systems on urban structures and homeownership," MPIfG Discussion Paper 17/2, Max Planck Institute for the Study of Societies.
    11. Erik Bengtsson & Anna Missiaia & Mats Olsson & Patrick Svensson, 2018. "Wealth inequality in Sweden, 1750–1900," Economic History Review, Economic History Society, vol. 71(3), pages 772-794, August.
    12. Bengtsson, Erik & Svensson, Patrick, 2020. "The living standards of the labouring classes in Sweden, 1750–1900: Evidence from rural probate inventories," Lund Papers in Economic History 213, Lund University, Department of Economic History.
    13. Oscar Gelderblom & Joost Jonker & Ruben Peeters & Amaury de Vicq, 2023. "Exploring modern bank penetration: Evidence from early twentieth‐century Netherlands," Economic History Review, Economic History Society, vol. 76(3), pages 892-916, August.
    14. Richard S. Grossman, 2011. "The Economic History of Banking," Wesleyan Economics Working Papers 2011-004, Wesleyan University, Department of Economics.
    15. Sofia Murhem, 2016. "Credit for the poor: the decline of pawnbroking 1880–1930," European Review of Economic History, European Historical Economics Society, vol. 20(2), pages 198-214.
    16. Hotori, Eiji & Wendschlag, Mikael, 2018. "The formalization of banking supervision: A comparison between Japan and Sweden," eabh Papers 18-03, The European Association for Banking and Financial History (EABH).
    17. Erik, Bengtsson & Olsson, Mats & Svensson, Patrick, 2019. "Mercantilist Inequality: Wealth and Poverty in Stockholm 1650-1750," Lund Papers in Economic History 210, Lund University, Department of Economic History.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jechis:v:62:y:2002:i:03:p:810-832_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jeh .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.