The evolution of credit networks in pre-industrial Finland

Dermineur, Elise M.

doi:10.1080/03585522.2021.1884594

Cited by 4 publications

(3 citation statements)

References 39 publications

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“…However, the process of bringing out the more valuable products produced by the agricultural economy has another dimension, which is the origin and development of the credit relationship and responsibility, which first of all has its manifestation on the market, as pointed out by an author like (Curzer, 2021), noting that such an observation, first of all, of the credit cycle should be fundamentally evolutionary (Dermineur, 2022).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

The Influence of Factors on the Costs of Different Types of Loans in Business of Agricultural Farms and Medium-Sized Agricultural Enterprises

Lutovac,

Djokić,

Borojević

2024

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The application of the use of different types of loans in the real organization of agricultural production in Republic of Serbia was the focus of the authors of the study. The goal of the research was to determine the existence of legality based on the analysis of 7 factors affecting the loans of agricultural farms and medium-sized agricultural enterprises, namely: limit, repayment delay, efficiency, average exchange rate, possibility of repayment, increase in production, currency, as well as the overall score of all analyzed factors as well as the total score. Using the t test (Table 1), the authors found that there are significant differences in the evaluation of all 7 analyzed factors (p<0.0005*). In addition, the authors determined that there are significant differences in the evaluation of the use of three types of loans (p<0.0005*) by agricultural farms and medium-sized agricultural enterprises in the Republic of Serbia.

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Section: Theoretical Backgroundmentioning

confidence: 99%

The Influence of Factors on the Costs of Different Types of Loans in Business of Agricultural Farms and Medium-Sized Agricultural Enterprises

Lutovac,

Djokić,

Borojević

2024

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“…In pre-industrial Europe, before the advent of banks, credit was based on peer-to-peer transactions (Muldrew, 1998 for Britain;Hoffman, et al, 2012 for France;Dermineur, 2021 andLindgren, 2002 for Finland andSweden). Peer-to-peer lending was used either to support investments or to alleviate temporary resource shortages.…”

Section: European Credit Markets Before Modern Bankingmentioning

confidence: 99%

Financialization and Sustainable Credit: Lessons from Non-Intermediated Transactions?

Svetiev

Dermineur²,

Kolanisi³

2022

J Consum Policy

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Does increasing access to finance promote human flourishing? And if so, are there pathways to sustainable credit and finance in the face of the perceived excesses of financialization? Can we reform or regulate the financial sector to promote sustainable credit and avoid over-indebtedness? These and similar questions have attracted considerable scholarly and public debate in the aftermath of the 2007 global financial crisis, with a growing focus on institutional alternatives to market exchange in finance and beyond. In this article, we study the persistence of non-intermediated credit, whereby lenders and borrowers engage in transactions directly and without financial intermediaries. Peer lending was a mainstay source of credit prior to the emergence of financial intermediaries and our benchmark case study outlines common features of credit relationships before modern banking in Europe. The other two case studies come from jurisdictions where non-intermediated credit persists on a broad scale, despite parties having formal access to modern finance. The aim of our contribution is threefold. First, we identify features of non-intermediated transactions that are consistent with a notion of sustainable credit, in the sense that they are not destabilising for the transacting parties (or the broader community). Secondly, we highlight the normative mechanisms that support non-intermediated credit across different settings to identify the scope conditions and limits for such transactions. Third, we evaluate such credit transactions along a set of normative benchmarks to draw out lessons for contemporary finance and financial regulation. We argue that even if non-intermediated credit cannot provide an alternative to modern finance, such transactions can help financial institutions tailor products to the needs of specific consumers or outsource credit assessment and repayment, while also allowing policymakers and regulators to identify and resolve concrete credit access problems for disadvantaged communities.

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“…She also deposited money in four different commercial banks and obtained loans from the same institutions for a total amount of over 270,000 kronor 10 . This was probably the result of a strategy designed to diversify her portfolio, but it could also testify to the pressure exerted by banks themselves, who were always looking for new, wealthy clients (Dermineur 2021).…”

Section: IIImentioning

confidence: 99%

A complicated puzzle: spinsters, widows and credit in Sweden (1790–1910)

Pompermaier

2021

Financial History Review

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This article aims to retrace the extent of single women's engagement in the credit market. To this end, it relies on a series of more than 1,900 probate inventories drawn up between 1790 and 1910 in the two Swedish cities of Gävle and Uppsala. These two cities represent an ideal case study, because the process of industrialisation and economic development resulted in two differently structured credit markets. The research centres initially on the problem of studying women's agency from probate inventories. It analyses the main characteristics of spinsters and widows as they emerge from the sources and compares them with married women. Subsequently, the article analyses how marital status shaped women's economic lives, affecting how they participated in the credit market. For this purpose, it focuses specifically on banking and peer-to-peer exchanges (in particular, promissory notes). Spinsters favoured more conservative strategies relying more often on the services provided by banks, while widows seemed to have played an additional, and more significant, role as lenders in peer-to-peer networks. The study also confirms that unmarried women were only rarely active as borrowers.

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The evolution of credit networks in pre-industrial Finland

Cited by 4 publications

References 39 publications

The Influence of Factors on the Costs of Different Types of Loans in Business of Agricultural Farms and Medium-Sized Agricultural Enterprises

The Influence of Factors on the Costs of Different Types of Loans in Business of Agricultural Farms and Medium-Sized Agricultural Enterprises

Financialization and Sustainable Credit: Lessons from Non-Intermediated Transactions?

A complicated puzzle: spinsters, widows and credit in Sweden (1790–1910)

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