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Gezielte Hilfe in schwieriger Zeit? Die Gründung von Schiffshypothekenbanken am Ende des Ersten Weltkriegs

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  • Wixforth, Harald

Abstract

The history of German ship mortgage and ship Pfandbrief banks goes back to the end of the First World War. However, the financial crisis from 2007 to 2009 and even more so the current crisis in shipping prevented their business model from coming under increasing criticism. Firstly, this article aims to identify the founding of ship mortgage banks and the motives behind them. Secondly, it is shown that the principle of providing shipping companies with capital against the pledging of shipping space and refinancing itself by issuing Pfandbriefe on the capital market worked well in Germany for almost 100 years. What is more, the ship mortgage banks were and are part of an extraordinarily efficient financial market in Germany, despite all the distortions in the international financial world in recent years.

Suggested Citation

  • Wixforth, Harald, 2019. "Gezielte Hilfe in schwieriger Zeit? Die Gründung von Schiffshypothekenbanken am Ende des Ersten Weltkriegs," IBF Paper Series 02-19, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
    • Handle: RePEc:zbw:ibfpps:0219
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    1. Wixforth Harald, 2017. "Das Universalbanksystem – Ein Erfolgsmodell auf den Finanzmärkten?," Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, De Gruyter, vol. 58(2), pages 583-612, November.
    2. Unknown, 2003. "Die Lage der Weltwirtschaft und der deutschen Wirtschaft im Fruhjahr 2003," Report Series 26058, Hamburg Institute of International Economics.
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L64 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Machinery; Business Equipment; Armaments
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-

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