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How the Great War Formed Scandinavian Central Banking

In: The Origins and Nature of Scandinavian Central Banking

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  • Steffen Elkiær Andersen

Abstract

The rapid industrialization and urbanization sweeping through Scandinavia during the 1890s and early 20th century left all three countries with sizeable net foreign debts by 1914. Large sums were owed to German, British, French, Swiss, and American banks, and large amounts of Scandinavian bonds and stocks were circulating on the stock exchanges, particularly in Berlin and Paris. Also, large blocks of real estate in the Scandinavian capitals had been acquired by German and British insurance companies.

Suggested Citation

  • Steffen Elkiær Andersen, 2016. "How the Great War Formed Scandinavian Central Banking," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The Origins and Nature of Scandinavian Central Banking, chapter 7, pages 95-117, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-319-39750-4_7
    DOI: 10.1007/978-3-319-39750-4_7
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