Incorporation and Financial Modernization

  • Oskar Broberg
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)


In the late nineteenth and early twentieth century, Sweden experienced a period of rapid industrialization and its economic growth was among the highest in the world. At the same time, the institution of private property underwent an important change as joint-stock companies became the dominant form of economic organization. As Figure 8.1 shows incorporation gained momentum in the late 1890s and the period up until 1920 can be characterized as the breakthrough for the joint-stock company. This chapter explores the Swedish incorporation process and its consequences for the modernization of the financial system.1


Nineteenth Century Commercial Bank Limited Liability Minority Share Holder Creative Destruction 
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© Oskar Broberg 2010

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  • Oskar Broberg

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