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Sweden in 1850 as an “Impoverished Sophisticate”: Comment

  • Charles P. Kindleberger (a1)
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1 Sandberg Lars G., “Banking and Economic Growth in Sweden before World War I,” this JOURNAL, 38 (09 1978), 650–80;idem, “The Case of the Impoverished Sophisticate: Human Capital and Swedish Economic Growth before World War I,” this JOURNAL., 39 (March 1979), 225–41.

2 Sandberg, “Case of Impoverished Sophisticate,” p. 232: “Sweden's relatively very sophisticated system of financial institutions, in 1850 or 1870, meant … This stock of knowledge about and general acceptance of modern financial institutions and procedures greatly facilitated their rapid expansion during the period of speed economy growth after 1850.”

3 Coase Ronald H., “The Nature of the Firm,” Economica, n.s., 4 (1939), 386405.

4 Heckscher Eli K., An Economic History of Sweden, trans. from Swedish original by Ohlin Goran (Cambridge, Massachusetts, 1954), p. 245.

5 Ibid., p. 247.

7 Ibid., p. 249.

8 Fridlizius Gunnar, Swedish Corn Exports in the Free Trade Era, Patterns in the Oars Trade, 1850–1880 (Lund, 1957), p. 266.

9 Ibid., pp. 205, 207.

10 Söderlund E. F., Swedish Timber Exports, 1850–1950, A History of the Swedish Timber Trade Edited for the Swedish Wood Exporters Association (Uppsala, 1952), p. 198.

11 Samuelsson Kurt, From Great Power to Welfare State (London, 1968), p. 198.

12 Hovde B. J., The Scandinavian Countries, 1720–1865: The Rise of the Classes (1943; reprint ed., Port Washington, New York, 1972), pp. 241–42.

13 Montgomery Arthur G., The Rise of Modern Industry in Sweden (London, 1939), p. 126.

14 Gasslander Olle, History of the Stockholms Enskilda Bank to 1914 (Stockholm, 1962), p. 7.

15 Ibid., p. 21.

16 Heckscher, Economic History of Sweden, pp. 88–90.

17 Flux A. W., The Swedish Banking System, (Washington, D.C., 1910), p. 23.

18 Gasslander, History of Stockholms Enskilda Bank, p. 10.

19 Flux, Swedish Bank System, p. 2.

20 Sandberg, “Banking and Economic Growth,” Table 2, p. 661.

21 See especially Fridlizius, Swedish Corn Exports, and Söderlund, Swedish Timber Exports. The financing of iron exports by Gothenburg dealers lending to ironmasters is discussed in Adamson Rolf, “Finance and Marketing in the Swedish Iron Industry, 1800–1860,” Scandinavian Economic History Review, 16, no. 1 (1968), esp. pp. 54, 76, 94.

22 Gasslander, History of Stockholms Enskilda Bank, p. 11.

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The Journal of Economic History
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  • EISSN: 1471-6372
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