Hostname: page-component-78c5997874-xbtfd Total loading time: 0 Render date: 2024-11-18T22:41:58.316Z Has data issue: false hasContentIssue false
  • English
  • Français

THE MODERNIZATION OF SWEDISH CREDIT MARKETS, 1840–1905: EVIDENCE FROM PROBATE RECORDS

Published online by Cambridge University Press:  11 October 2002

Håkan Lindgren
Get access Rights & Permissions [Opens in a new window]

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.

Type
ARTICLES
Information
The Journal of Economic History , Volume 62 , Issue 3 , September 2002 , pp. 810 - 832
Copyright
© 2002 The Economic History Association

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)