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Inequality and bank debt in Sweden in 1919–2012

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  • Lars Ahnland

Abstract

This study demonstrates a long-run relationship between inequality and the bank debt to GDP ratio in Sweden in 1919–2012. The findings suggest that much of the impact of the top income share on the debt ratio comes from changes in the profit share. Earlier research claims that the rich, via the banks, have lent their savings to the poor as a substitute for wage gains, but this description seems ill-suited for Sweden. An alternative explanation is that banks consider profits to be an indicator of the safety of a loan. This is more in line with the study’s findings.

Suggested Citation

  • Lars Ahnland, 2018. "Inequality and bank debt in Sweden in 1919–2012," European Review of Economic History, European Historical Economics Society, vol. 22(2), pages 161-184.
    • Handle: RePEc:oup:ereveh:v:22:y:2018:i:2:p:161-184.
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    File URL: http://hdl.handle.net/10.1093/ereh/hex019
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