The Origins and Nature of Scandinavian Central Banking

  • Steffen Elkiær Andersen

Table of contents

  1. Front Matter
    Pages i-xvi
  2. The Nature of Central Banking

    1. Front Matter
      Pages 1-1
    2. Steffen Elkiær Andersen
      Pages 3-10
    3. Steffen Elkiær Andersen
      Pages 11-22
  3. Before the Deluge. The Very Different Origins of Scandinavia’s Central Banks, the Great War, and the Four Criteria

    1. Front Matter
      Pages 23-23
    2. Steffen Elkiær Andersen
      Pages 25-51
    3. Steffen Elkiær Andersen
      Pages 53-68
    4. Steffen Elkiær Andersen
      Pages 69-79
    5. Steffen Elkiær Andersen
      Pages 81-93
    6. Steffen Elkiær Andersen
      Pages 95-117
  4. The Interwar and Postwar Period

    1. Front Matter
      Pages 119-119
    2. Steffen Elkiær Andersen
      Pages 121-148
    3. Steffen Elkiær Andersen
      Pages 149-180
    4. Steffen Elkiær Andersen
      Pages 181-203
    5. Steffen Elkiær Andersen
      Pages 205-211
  5. Back Matter
    Pages 213-237

About this book


This book explores the formation and evolution of Scandinavian central banks. It begins by defining the nature of “central banking” in general, before moving on to investigate how and when it became meaningful to regard today’s Scandinavian central banks as such. It also explores how Scandinavian central banks have conformed to the defined ideals of “central banks” over the last 100 years, clarifying the distinctions between commercial banks and central banks, and between central banks and departments of governments. The author shows how the outbreak of the Great War was the catalyst which fundamentally transformed the originally purely commercial banks into “central banks”. The book also analyses how different the three Scandinavian central banks are, how these differences can be explained by the different political and economic circumstances surrounding their original formation, and the differences in the political environments in which they later developed.


Swedish Central Bank Danish Central Bank Nordic Central Bank Riksdag Commercial Banking Banking crisis World War II Great War Financial Markets

Authors and affiliations

  • Steffen Elkiær Andersen
    • 1
  1. 1.RungstedDenmark

Bibliographic information

  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2016
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-39749-8
  • Online ISBN 978-3-319-39750-4
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking