caa a22 4500 386330514 CHVBK 20180307111711.0 cr unu---uuuuu 161130e198909 xx s 000 0 eng 10.1017/S0022050700008780 doi S0022050700008780 pii (NATIONALLICENCE)cambridge-10.1017/S0022050700008780 Sweden's Financial Sophistication in the Nineteenth Century: An Appraisal [Elektronische Daten] The article tests a variant of Lars G. Sandberg's "financial sophistication hypothesis.” Sandberg argues that Sweden had an unusually large stock of financial capital in 1850 which, along with a highly literate populace, was paramount in the subsequent economic explosion. Unable to test the hypothesis directly, we use a variant—that the financial sector was a leading sector in Swedish development—amenable to time-series tests of the Granger-causality form. These tests on data from 1861 to 1910 do not show causality from financial variables to real; indeed, the converse holds. Copyright © The Economic History Association 1989 Fisher Douglas Professor and Associate Professor of Economics, respectively, at North Carolina State University, Raleigh, NC 27695. Thurman Walter N. Professor and Associate Professor of Economics, respectively, at North Carolina State University, Raleigh, NC 27695. The Journal of Economic History Cambridge University Press 49/3(1989-09), 621-634 0022-0507 49:3<621 1989 49 JEH https://doi.org/10.1017/S0022050700008780 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S0022050700008780 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Fisher Douglas Professor and Associate Professor of Economics, respectively, at North Carolina State University, Raleigh, NC 27695 NATIONALLICENCE 700 1- Thurman Walter N. Professor and Associate Professor of Economics, respectively, at North Carolina State University, Raleigh, NC 27695 NATIONALLICENCE 773 0- The Journal of Economic History Cambridge University Press 49/3(1989-09), 621-634 0022-0507 49:3<621 1989 49 JEH CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge