Historical financing of small- and medium-size enterprises

• Published in: Journal of Banking & Finance
• Main Authors: Cull, Robert, Davis, Lance E., Lamoreaux, Naomi, Rosenthal, Jean-Laurent
• Format: Article in Journal/Newspaper
• Language: unknown
• Published: Elsevier 2006
• Subjects: UNITED-STATES; GERMAN INDUSTRIALIZATION; UNIVERSAL BANKING; GROWTH; CREDIT; ECONOMY; RISE; Beck; North Atlantic
• Online Access: https://doi.org/10.1016/j.jbankfin.2006.05.005

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...