Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/56162
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dc.contributor.authorÖgren, Andersen_US
dc.date.accessioned2012-03-28T13:05:00Z-
dc.date.available2012-03-28T13:05:00Z-
dc.date.issued2003en_US
dc.identifier.urihttp://hdl.handle.net/10419/56162-
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.language.isoengen_US
dc.publisher|aEkonomiska Forskningsinst. |cStockholmen_US
dc.relation.ispartofseries|aSSE/EFI Working Paper Series in Economics and Finance |x540en_US
dc.subject.jelE40en_US
dc.subject.jelG21en_US
dc.subject.jelN13en_US
dc.subject.jelN23en_US
dc.subject.ddc330en_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.keywordLiquidityen_US
dc.subject.stwFinanzmarkten_US
dc.subject.stwGoldwährungen_US
dc.subject.stwSilberwährungen_US
dc.subject.stwFree Bankingen_US
dc.subject.stwBankenliquiditäten_US
dc.subject.stwSchwedenen_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
dc.identifier.ppn372799116en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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