EconStor >
Stockholm School of Economics >
EFI - The Economic Research Institute, Stockholm School of Economics >
SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics >

Please use this identifier to cite or link to this item:

Full metadata record

DC FieldValueLanguage
dc.contributor.authorÖgren, Andersen_US
dc.description.abstractFirst established during the 1830's, the Enskilda banks were characterized by unlimited owner liability and the right to issue bank notes. Consequently, in Swedish banking history, these banks have been considered to be primitive relics. This paper utilizes new data to revise this picture of the Enskilda banks. Applying Douglas W. Diamond's model (1997) of the cumulative contribution of banks to the creation of liquid asset markets in developing economies to the capital poor country of Sweden, indicates that the Enskilda banks made a contribution out of the reach of non-note issuing banks. In view of the crucial role of the Enskilda banks, the Banking Act of 1864, which effectively permitted the free establishment of such banks, must be judged to have been the most important institutional change facilitating the development of the Swedish credit market.en_US
dc.publisherEkonomiska Forskningsinst. Stockholmen_US
dc.relation.ispartofseriesSSE/EFI Working Paper Series in Economics and Finance 540en_US
dc.subject.keywordBanking Fragilityen_US
dc.subject.keywordCapital Market Developmenten_US
dc.subject.keywordClassical Silver and Gold Standardsen_US
dc.subject.keywordFractional Reservesen_US
dc.subject.keywordFree Bankingen_US
dc.subject.stwFree Bankingen_US
dc.titleCommercial note issuing banks and capital market development: An empirical test of the Enskilda Banks' assets, liabilities and reserves in relation to evolving capital market liquidity in Sweden, 1834 - 1913en_US
dc.typeWorking Paperen_US
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

Files in This Item:
File Description SizeFormat
372799116.pdf321.61 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.