Their article is awarded the Heckscher prize with the following motivation: 

“The prize is given to a successful attempt to cast new light on a question that has attracted attention from economic historians as well as the general public, namely, how much did the Swedish economy of the eighteenth century really gain from the voyages and commercial activities of the East Indian Company. 

Applying a value-chain analysis, the paper finds that the company’s endeavors had a non-negligible impact on the economy, and a significant impact on the trade and transport sectors, during a long part of the eighteenth century.”

The East India Company: an important part of Swedish foreign trade

Professor Leos Müller has researched the Swedish East Indian Company for over two decades. He has long been interested in what the company actually meant for Swedish economy, 

Leos Müller. Foto: Elin Heppling

–I have argued for a long time that the company was not some type of exotic venture, but an important and well established part of the Swedish foreign trade during the 18th century. 

The research presented in Leos Müller and Klas Rönnbäck’s article reveals the source of the Company’s largest profits: re-export. 

–Significant profits were made between Gothenburg and the end markets, for example in England – not on the long journey between Kanton and Gothenburg. It is fairly well known how these profits were then invested in Sweden, says Leos Müller. 

After many years of researching the topic, he is pleased to have the Heckscher award bring attention to the field and the results. 

–It is recognition that this is an important topic and that the research is well performed, from a high quality journal. 

Read the article Swedish East India Trade in a value-added analysis, ca 1730–1800

Read more about Leos Müller’s research