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Sweden as an “Impoverished Sophisticate”: A Reply

Published online by Cambridge University Press:  03 March 2009

Lars G. Sandberg
Lars G. Sandberg
Affiliation:
Professor of Economics at Ohio State University, Columbus, Ohio 43210.
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Abstract

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Type
Notes and Discussion
Information
The Journal of Economic History , Volume 42 , Issue 4 , December 1982 , pp. 921 - 922
Copyright
Copyright © The Economic History Association 1982

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References

1 See Sandberg, Lars G., “Banking and Economic Growth in Sweden before World War I,” this JOURNAL, 38 (09 1978), 651–53.Google Scholar

2 Sandberg, “Banking and Economic Growth.”Google Scholar

3 In the terminology of the Coase theorem, these concerns would fall under the general heading of differences in transactions costs.Google Scholar

4 The absence of reliable national income data for Sweden before 1860 deterred me from calculating these ratios for earlier years. The series on Swedish bank assets back to 1829 that I developed, however, makes it clear that Sweden also had a high ranking in 1850, and indeed even before that date. See Sandberg, “Banking and Economic Growth,” pp. 661, 664–65, and 668–79.Google Scholar

5 Flux, Alfred, The Swedish Banking System (Washington, D.C., 1910).Google Scholar