Historical financing of small- and medium-size enterprises
We focus on the economies of the North Atlantic Core during the 19th and early 20th centuries and find that an impressive variety of local financial institutions emerged to supply the needs of SMEs wherever there was sufficient demand for their services. Although these intermediaries had significant...
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ftcaltechauth:oai:authors.library.caltech.edu:08hc8-7xb38 2024-06-23T07:55:09+00:00 Historical financing of small- and medium-size enterprises Cull, Robert Davis, Lance E. Lamoreaux, Naomi Rosenthal, Jean-Laurent 2006-11 https://doi.org/10.1016/j.jbankfin.2006.05.005 unknown Elsevier https://doi.org/10.1016/j.jbankfin.2006.05.005 oai:authors.library.caltech.edu:08hc8-7xb38 eprintid:13238 resolverid:CaltechAUTHORS:CULjbf06 info:eu-repo/semantics/closedAccess Other Journal of Banking and Finance, 30(11), 3017-3042, (2006-11) UNITED-STATES GERMAN INDUSTRIALIZATION UNIVERSAL BANKING GROWTH CREDIT ECONOMY RISE info:eu-repo/semantics/article 2006 ftcaltechauth https://doi.org/10.1016/j.jbankfin.2006.05.005 2024-06-12T05:56:05Z We focus on the economies of the North Atlantic Core during the 19th and early 20th centuries and find that an impressive variety of local financial institutions emerged to supply the needs of SMEs wherever there was sufficient demand for their services. Although these intermediaries had significant weaknesses, they were able to tap into local information networks and so extend credit to firms that were too young or small to secure funds from large regional or national institutions. In addition, by raising the return to savings for local households, they helped to mobilize significant new resources for economic development. Copyright © 2006 Elsevier. Received 31 January 2005; accepted 8 May 2006. Available online 10 July 2006. We would like to thank Thorsten Beck, Asli Demirgüç-Kunt, Kenneth Sokoloff, two anonymous referees, and participants in the World Bank Conference on Small and Medium Enterprises for their helpful comments. We are also grateful to our research assistant, Andrea Maestrejuan. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the World Bank, its Executive Directors, or the countries they represent. Article in Journal/Newspaper North Atlantic Caltech Authors (California Institute of Technology) Beck ENVELOPE(67.017,67.017,-71.033,-71.033) Journal of Banking & Finance 30 11 3017 3042 |
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Caltech Authors (California Institute of Technology) |
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ftcaltechauth |
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UNITED-STATES GERMAN INDUSTRIALIZATION UNIVERSAL BANKING GROWTH CREDIT ECONOMY RISE |
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UNITED-STATES GERMAN INDUSTRIALIZATION UNIVERSAL BANKING GROWTH CREDIT ECONOMY RISE Cull, Robert Davis, Lance E. Lamoreaux, Naomi Rosenthal, Jean-Laurent Historical financing of small- and medium-size enterprises |
topic_facet |
UNITED-STATES GERMAN INDUSTRIALIZATION UNIVERSAL BANKING GROWTH CREDIT ECONOMY RISE |
description |
We focus on the economies of the North Atlantic Core during the 19th and early 20th centuries and find that an impressive variety of local financial institutions emerged to supply the needs of SMEs wherever there was sufficient demand for their services. Although these intermediaries had significant weaknesses, they were able to tap into local information networks and so extend credit to firms that were too young or small to secure funds from large regional or national institutions. In addition, by raising the return to savings for local households, they helped to mobilize significant new resources for economic development. Copyright © 2006 Elsevier. Received 31 January 2005; accepted 8 May 2006. Available online 10 July 2006. We would like to thank Thorsten Beck, Asli Demirgüç-Kunt, Kenneth Sokoloff, two anonymous referees, and participants in the World Bank Conference on Small and Medium Enterprises for their helpful comments. We are also grateful to our research assistant, Andrea Maestrejuan. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the World Bank, its Executive Directors, or the countries they represent. |
format |
Article in Journal/Newspaper |
author |
Cull, Robert Davis, Lance E. Lamoreaux, Naomi Rosenthal, Jean-Laurent |
author_facet |
Cull, Robert Davis, Lance E. Lamoreaux, Naomi Rosenthal, Jean-Laurent |
author_sort |
Cull, Robert |
title |
Historical financing of small- and medium-size enterprises |
title_short |
Historical financing of small- and medium-size enterprises |
title_full |
Historical financing of small- and medium-size enterprises |
title_fullStr |
Historical financing of small- and medium-size enterprises |
title_full_unstemmed |
Historical financing of small- and medium-size enterprises |
title_sort |
historical financing of small- and medium-size enterprises |
publisher |
Elsevier |
publishDate |
2006 |
url |
https://doi.org/10.1016/j.jbankfin.2006.05.005 |
long_lat |
ENVELOPE(67.017,67.017,-71.033,-71.033) |
geographic |
Beck |
geographic_facet |
Beck |
genre |
North Atlantic |
genre_facet |
North Atlantic |
op_source |
Journal of Banking and Finance, 30(11), 3017-3042, (2006-11) |
op_relation |
https://doi.org/10.1016/j.jbankfin.2006.05.005 oai:authors.library.caltech.edu:08hc8-7xb38 eprintid:13238 resolverid:CaltechAUTHORS:CULjbf06 |
op_rights |
info:eu-repo/semantics/closedAccess Other |
op_doi |
https://doi.org/10.1016/j.jbankfin.2006.05.005 |
container_title |
Journal of Banking & Finance |
container_volume |
30 |
container_issue |
11 |
container_start_page |
3017 |
op_container_end_page |
3042 |
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1802647606541680640 |