Historical Financing of Small- and Medium-Sized Enterprises
We focus on the economies of the North Atlantic Core during the nineteenth and early twentieth 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...
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ftrepec:oai:RePEc:nbr:nberwo:11695 2024-04-14T08:15:39+00:00 Historical Financing of Small- and Medium-Sized Enterprises Robert Cull Lance E. Davis Naomi R. Lamoreaux Jean-Laurent Rosenthal http://www.nber.org/papers/w11695.pdf unknown http://www.nber.org/papers/w11695.pdf preprint ftrepec 2024-03-19T10:37:47Z We focus on the economies of the North Atlantic Core during the nineteenth and early twentieth 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. Report North Atlantic RePEc (Research Papers in Economics) |
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RePEc (Research Papers in Economics) |
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We focus on the economies of the North Atlantic Core during the nineteenth and early twentieth 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. |
format |
Report |
author |
Robert Cull Lance E. Davis Naomi R. Lamoreaux Jean-Laurent Rosenthal |
spellingShingle |
Robert Cull Lance E. Davis Naomi R. Lamoreaux Jean-Laurent Rosenthal Historical Financing of Small- and Medium-Sized Enterprises |
author_facet |
Robert Cull Lance E. Davis Naomi R. Lamoreaux Jean-Laurent Rosenthal |
author_sort |
Robert Cull |
title |
Historical Financing of Small- and Medium-Sized Enterprises |
title_short |
Historical Financing of Small- and Medium-Sized Enterprises |
title_full |
Historical Financing of Small- and Medium-Sized Enterprises |
title_fullStr |
Historical Financing of Small- and Medium-Sized Enterprises |
title_full_unstemmed |
Historical Financing of Small- and Medium-Sized Enterprises |
title_sort |
historical financing of small- and medium-sized enterprises |
url |
http://www.nber.org/papers/w11695.pdf |
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North Atlantic |
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North Atlantic |
op_relation |
http://www.nber.org/papers/w11695.pdf |
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1796314055984545792 |