Development of Early Banking Markets: the Swedish Case

How the Swedish banking and financial system developed from the early nineteenth century onwards and how it has contributed to economic development on a local, regional and national level are the main questions addressed by recent and current research within this research program. In less than a century, from the establishment of the first savings bank in 1820 and up to the beginning of the twentieth century, a financial system based solely on personal knowledge and trust was replaced by a system consisting of a large variety of financial organizations, offering a wide range of financial services to the public. The ability to overcome information asymmetries and other risks connected to the business of banking by utilizing personal networks have since then been a hallmark of the Swedish banking system. Some of the results have been published in Both a borrower and a lender be. Savings banks in the economic development of Sweden, 1820–1939, which can be downloaded from

Participants at Uppsala University:

Lars Fälting
Hilda Hellgren
Mikael Karlsson
Mats Larsson
Kristina Lilja
Tom Petersson
Anders Sjölander

Selection of publications:

Fälting, L. (2001), Småhusfinansiering. En studie av kommunens, statens och enskilda aktörers riskhantering i Nyköping 1904-1948. Uppsala Studies in Economic History. Uppsala.

Fälting, L. Liljefrost, E. & Petersson T. (2006), The Microfinance Revolution Revisited: Experiences from the Savings Banks History in Sweden. European Dialogue, ADA (Appui de Développement Autonome) Luxemburg.

Hellgren, H. (2003), Fasta förbindelser. En studie av låntagare hos sparbanken och informella kreditgivare i Sala 1860-1910. Uppsala Studies in Economic History. Uppsala.

Lilja, K. (2004), Marknad och hushåll. Sparande och krediter i Falun 1820-1910 utifrån ett livscykelperspektiv. Uppsala Studies in Economic History. Uppsala.

Petersson, T. (2001), Framväxten av ett lokalt banksystem. Oppunda sparbank, Södermanlands enskilda bank och stationssamhället Katrineholm 1850-1916. Uppsala Studies in Economic History. Uppsala.

Petersson, T. (2006), "The Silent Partners, Women, Capital and the Development of the Financial System in the Nineteenth-Century Sweden." In: Beachy, R., Craig, B. & Owens B. (eds.) Rethinking Separate Spheres. Women, Business and Finance in Nineteenth-century Europe. Berg Publishers., London & New York.

Petersson, T (2008) “Women, money and the financial revolution. A gender perspective on the development of the Swedish financial system, c1860–1920”, i Anne Laurence, Josephine Maltby & Janette Rutterford (eds.), Women and their money 1700–1950. Essays on women and finance, Routledge International Studies in Business history, Routledge, London & New York.

Sjölander A. (2003), Den naturliga ordningen. Makt och intressen i de svenska sparbankerna 1882-1968. Uppsala Studies in Economic History. Uppsala.


Sparbankernas Forskningsstiftelse, Sparbanksstiftelsen Dalarna

Contact persons:

Lars Fälting, Mats Larsson, Kristina Lilja and Tom Petersson. Ekonomisk-historiska institutionen, Box 513, 751 20 Uppsala, Phone +46 18 471 1218


Högre seminarier vid UCBH, hösten 2016.

Seminarierna äger rum kl 13.15–15.00 på Ekonomikum i rum K 412 om ej annat anges.

29 augusti

Margrit Müller, Universität Zürich. "The impact of multinationalization on the firms, their home economy and the host countries. The case of Switzerland during the 20th century"

12 september

Amanda Scardamaglia, Swinburne Law School, Melbourne. Presentation av forskningsprojekt om "Colonial trademarks".