The political economy of banking: retail banking and corporate finance in Sweden, 1850–1939

Larsson, Mats; Lindgren, Håkan

doi:10.1017/cbo9780511599545.019

Cited by 6 publications

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“…The Gerschenkron hypothesis of the role of late comers in the industrial revolution and the importance of banks in this process stimulated an extensive debate and was later tested empirically by Rondo Cameron. Cameron's results did not, however, support the general argument put forward by Gerschenkron, see Lindgren (1992), Teichova (1992), Olsson (1992) and Cameron (1992). 12 A significant proportion of Schumpeter's discussion was devoted to the importance of banking and finance in relation to entrepreneurial activity: if lacking substantial financial support from such agencies, surely no innovative entrepreneurial activity could be sustained by itself for any greater amount of time.…”

Section: Continuity and Change: Structures Of Personal Network In Swmentioning

confidence: 66%

“…The depression had far-reaching consequences for the complex web of bank-industry relations. During the crisis, the banks took Source: Ottosson (1993), p. 76. over shares to secure their commitments, and as a result became owners of a number of Swedish firms (Larsson & Lindgren 1992;Larsson 1991). Also, the credits granted to the bank-dependent or bank-owned firms reached substantial levels.…”

Section: Continuity and Change: Structures Of Personal Network In Swmentioning

confidence: 99%

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Interlocking Directorates in Swedish Big Business in the Early 20th Century

Ottosson

1997

Acta Sociologica

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Section: Continuity and Change: Structures Of Personal Network In Swmentioning

confidence: 66%

Section: Continuity and Change: Structures Of Personal Network In Swmentioning

confidence: 99%

Interlocking Directorates in Swedish Big Business in the Early 20th Century

Ottosson

1997

Acta Sociologica

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“…However, their greater freedom went hand in hand with an extension of public control. In practice this meant that commercial banks had to be chartered by the government (Larsson, 1995; see also Larsson and Lindgren, 1992). As in the Netherlands, the 1910s witnessed a transformation of the banking sector in reduced, while the number of branches was extended considerably.…”

Section: P 118mentioning

confidence: 99%

Commercial Banking

Westerhuis¹

2016

The Oxford Handbook of Banking and Financial History

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This chapter provides an overview of the development of commercial banking—defined as taking deposits payable on demand and originating loans to private and corporate customers—from the mid-nineteenth century to the present. Two characteristics are underlined: state regulation, primarily dictated by concerns about banks’ position as deposit takers; and banks’ role in the financing of industry and more generally in economic growth including their assigned responsibility. The changing nature of these two features has shaped the development of commercial banks since the onset of industrialization. In all countries, with the exception of England, commercial banks developed into some kind of universal bank in the course of the nineteenth century. This converging movement ended in the interwar years, when in many countries commercial banks were separated from investment banks. Universal banking became dominant again in the late twentieth century, but in the form of banking conglomerates.

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“…Many actors suddenly realized that they could no longer pay the interest rates or installments on the loans they previously had taken in order to make further investments, expecting to make large profits. The fact is that many actors in the stock market to a large extent lived on bank credits, and many companies' portfolios were heavily mortgaged (Glete 1981; Larsson and Lindgren 1992).…”

Section: The (Trans)formative Years and The Birth Of The Swedish Bmentioning

confidence: 99%

Business Groups in 20^th‐Century Swedish Political Economy: A Sociological Perspective

Smångs

2008

American J Econ Sociol

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Since the interwar period, the Swedish economy has been dominated by a few business groups that control practically all Swedish industry of any importance. This article provides a sociologically informed account of the existence and lasting dominance of business groups in Sweden. In challenging efficiency‐based accounts of business groups in Sweden offered by transaction‐cost economists, I adopt a historical and dynamic approach that understands economic institutions not as efficient responses to external circumstances, such as market conditions, but as “social constructions.” This approach emphasizes the role of contingency as well as agency in the formation and reproduction of institutions. The article demonstrates the historical contingencies of the emergence of the business groups—in the form of economic crises in the interwar period—and how the groups became institutionalized in the postwar period through a process of social exchange among the key actors in the Swedish political economy: the business elite, the trade unions, and the state.

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The political economy of banking: retail banking and corporate finance in Sweden, 1850–1939

Cited by 6 publications

References 0 publications

Interlocking Directorates in Swedish Big Business in the Early 20th Century

Interlocking Directorates in Swedish Big Business in the Early 20th Century

Commercial Banking

Business Groups in 20^th‐Century Swedish Political Economy: A Sociological Perspective

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The political economy of banking: retail banking and corporate finance in Sweden, 1850–1939

Cited by 6 publications

References 0 publications

Interlocking Directorates in Swedish Big Business in the Early 20th Century

Interlocking Directorates in Swedish Big Business in the Early 20th Century

Commercial Banking

Business Groups in 20th‐Century Swedish Political Economy: A Sociological Perspective

Contact Info

Product

Resources

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Business Groups in 20^th‐Century Swedish Political Economy: A Sociological Perspective