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Commercial banking, insurance and economic growth in Sweden between 1830 and 1998
Swansea University, UK.
Norwegian School of Economics and Business Administration, Norway.
Umeå University, Faculty of Social Sciences, Department of Economic History. (Swedish Growth Policy Institute and Umeå University, Sweden)
Umeå University, Faculty of Social Sciences, Department of Economic History. (Umeå University, Sweden and Norwegian School of Economics and Business Administration, Norway)ORCID iD: 0000-0002-3293-2318
2009 (English)In: Accounting Business and Financial History, ISSN 0958-5206, E-ISSN 1466-4275, Vol. 19, no 1, 21-39 p.Article in journal (Refereed) Published
Abstract [en]

We examine empirically the dynamic historical relation between commercial bank lending, insurance and economic (income) growth in Sweden using time-series data from 1830 to 1998 and performing tests for Granger causality. Because of the non-stationary nature of the time series examined the procedure of Toda andYamamoto (1995) is used. Our results, which have accounted for possible regime changes due to different exchange rate mechanisms over time, indicate that insurance has Granger-caused economic growth and bank lending. Therefore, we conclude that insurance is an important prerequisite for stimulating economic growth and that this could have important implications for contemporary developing economies.

Place, publisher, year, edition, pages
Taylor & Francis , 2009. Vol. 19, no 1, 21-39 p.
Keyword [en]
banking; insurance; economic growth; history; Sweden
National Category
Economic History
Research subject
Economic History
Identifiers
URN: urn:nbn:se:umu:diva-33036DOI: 10.1080/09585200802667139OAI: oai:DiVA.org:umu-33036DiVA: diva2:309664
Projects
The Historical Development of the swedish insurance industry
Funder
Riksbankens Jubileumsfond, P2006-0679:1-E
Available from: 2010-04-08 Created: 2010-04-08 Last updated: 2017-12-12Bibliographically approved

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Andersson, Lars FredrikLindmark, Magnus
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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf