This article highlights the key role played by Sweden's savings banks in the economic development of 19th Century Sweden. The first savings banks with modern characteristics, that served as a standard for the British and Nordic systems, was founded in 1810, in Ruthwell. After the creation of savings banks in Gothenburg, in 1820, and in Stockholm, in 1821, the movement expanded with such a speed that 500 savings banks existed by the time the old oak became the movement's symbol, meaning 1928.
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To cite this article:
RODRIGUEZ (Enrique), ANDERSSON (Mats)(2011): Savings and Economic
Development: Sweden in the 19th Century, ESBG Perspectives n°63, pp. 27-48.