The Modernization of Swedish Credit Markets, 1840–1905: Evidence From Probate Records

Lindgren, Håkan

doi:10.1017/s0022050702001092

Cited by 45 publications

(36 citation statements)

References 7 publications

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“…The Swedish probate inventories were used previously to study, for example, the spread of consumer durables and the size of the informal credit market; Kuuse, ‘Probate inventory’; Lindgren, ‘Modernization’.…”

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Wealth inequality in Sweden, 1750–1900†

Bengtsson

Missiaia

Olsson

et al. 2017

The Economic History Review

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This article examines the evolution of wealth inequality in Sweden from 1750 to 1900, contributing both to the debate on early modern and modern inequality and to the general debate on the pattern of inequality during industrialization. The pre‐industrial period (1750–1850) is for the first time examined for Sweden at the national level. The study uses a random sample of probate inventories from urban and rural areas across the country, adjusted for age and social class. Estimates are provided for the years 1750, 1800, 1850, and 1900. The results show a gradual growth in inequality as early as the mid‐eighteenth century, with the sharpest rise in the late nineteenth century. Whereas the early growth in inequality was connected to changes in the countryside and in agriculture, the later growth was related to industrialization encompassing both compositional effects and strong wealth accumulation among the richest. The level of inequality in Sweden in 1750 was lower than for other western European countries, but by 1900 Sweden was just as unequal.

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“…Cf. Hanson Jones, ‘Wealth estimates’; Lindgren, ‘Modernization’; Piketty et al., ‘Wealth concentration’.…”

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Wealth inequality in Sweden, 1750–1900†

Bengtsson

Missiaia

Olsson

et al. 2017

The Economic History Review

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“…The results have been checked against lending by local savings banks for the studied area. Although estimates are not exact, deviations are limited to about ten per cent (Lindgren, 2002(Lindgren, , 2017. However, these quantitative estimates of the private credit market volume tend to show that debts were much more widespread than claims.…”

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International mercantile networks and financial intermediation in nineteenth century Scania (Sweden). Foreign private capital imports and informal credit market imbalances

Perlinge

2019

Business History

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Estimates of informal credit markets in nineteenth century Sweden tend to indicate that debts were much more widespread than claims. If this is not just coincidental-however, these studies are statistically insignificant-further research needs to elucidate whether this is connected with direct private capital imports through regional cities by merchants, and whether they were intermediaries for mercantile credits to the agrarian sector. The outcome indicates a previously unnoticed importance of such capital imports. Credit market estimates from cities need be adjusted somewhat upwards. However, capital flows to the countryside obviously went through established retailers, not directly to farmers.

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“…Our source is probate inventories. Probate inventories were made mandatory in Sweden in 1734 and were used to divide the estate among heirs, repay debts, and to pay a small estate tax (0.25 per cent) that contributed to poor relief (Kuuse, 1974;Markkanen, 1978;Lindgren, 2002). Because of these manifold uses, there were strong incentives to probate the deceased.…”

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confidence: 99%

The wealth of the Swedish peasant farmer class (1750–1900): composition and distribution

Bengtsson

Svensson

2019

Rural History

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Using about 1,730 probate inventories, this article studies the wealth of peasant farmers in Sweden for the years 1750, 1800, 1850 and 1900. Average wealth grew rapidly, tripling over the nineteenth century, but it did not grow equally: the Gini coefficient for the farmers' wealth grew from 0.46 in 1750 to 0.73 in 1900. Farmers who lived close to the major grain markets in Stockholm and the mining district of Bergslagen were wealthier than others, as were farmers on fertile plains and, in 1900, those living in coastal areas. Increased market accessin terms of cities and foreign demandmeant that farmers well placed in terms of geography and infrastructure benefited much more than farmers on what became the periphery. The diversity of farmers' wealth grew, as did their financial sophistication.

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The Modernization of Swedish Credit Markets, 1840–1905: Evidence From Probate Records

Cited by 45 publications

References 7 publications

Wealth inequality in Sweden, 1750–1900†

Wealth inequality in Sweden, 1750–1900†

International mercantile networks and financial intermediation in nineteenth century Scania (Sweden). Foreign private capital imports and informal credit market imbalances

The wealth of the Swedish peasant farmer class (1750–1900): composition and distribution

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