I set two goals when preparing this study. First, I wanted to examine the historical
processes characteristic of lending, how people in different historical periods viewed
borrowing, and what was characteristic of this area. I conducted a historical review
from Hammurabi to the present day, focusing on events that I considered important.
I then examined the factors that can be linked to lending and loan defaults, but which
are difficult to measure and for which there is no generally accepted method. Within
this area, I focused on financial culture, inclusion, and resilience, drawing on OECD
research in this field. Overall, I concluded that these factors play an important
role and that it may be advisable to take some of them into account in lending and
credit assessment.
