What we can Learn from the Swedish Financial Revolution: An International Comparison
One of the aims of this book was to understand the occurrence of a financial revolution and its consequences by studying the financial revolution in Sweden in depth. In addition to understanding the Swedish financial revolution in particular, there is also an underlying motive to understand what general implications or conclusions can be drawn from this case. In this chapter, we summarize the Swedish financial revolution and put it into an international perspective with the purpose of extracting which findings in the Swedish case can be generalized and what findings point to particular Swedish phenomena. Before we turn to the evaluation of the Swedish financial revolution, we will again make a short definition of what a financial revolution implies.
KeywordsFinancial System Banking System International Comparison Commercial Bank Financial Development
Unable to display preview. Download preview PDF.
- Broberg, O. & Ögren, A. (2008) “Making money, creating credit: Swedish commercial banking and lending against shares 1870–1938” Unpublished paper.Google Scholar
- Ögren, A. (2003) Empirical studies in money, credit and banking: The Swedish credit market in transition under the silver and gold standards, 1834–1913. Stockholm School of Economics, Sweden.Google Scholar
- Ögren, A. (2007) “Lender of last resort in a peripheral economy with a fixed exchange rate: Financial crises and monetary policy in Sweden under the silver and gold standards, 1834–1913” in Cottrell, P., et al. (Ed.) Centers and peripheries in banking: The historical development of financial markets London Ashgate, pp. 225–252.Google Scholar
- Ögren, A. (2008) “Sweden’ monetary internationalization under the silver and gold standards, 1834–1913” Working Paper EconomiX — Universite de Paris X—Nanterre 2008:7.Google Scholar
- Schön, L. (1989) “Kapitalimport, kreditmarknad och industrialisering 1850— 1910”in Dahmén, E. (Ed.) Upplåningoch utveckling. Riksgåldskontoret 1789–1989. Stockholm.Google Scholar
- Rajan, R. G. & Zingales, L. (2004) Saving Capitalism from the capitalists. Unleashing the power of financial markets to create wealth and spread opportunity. Princeton University Press.Google Scholar
- Rousseau, P. L. & Sylla, R. (2003) “Financial systems, economic growth and globalization” in Bordo, M. D., Taylor, A. M. and Williamson, J. G. (Eds.) Globalization in historical perspective. University of Chicago Press.Google Scholar
- Sjölander, A. (2000) Attreglera ellerinte reglera —En undersökningavSparbanksfrågan i Riksdagen 188–1939. Uppsala Papers in Financial History No. 13. Uppsala University, Sweden.Google Scholar
- Sylla, R. (1998) “U.S. securities markets and the banking system, 1790–1840,” Federal Reserve Bank of St. Louis Review 80, 3 (May/June), 83–98.Google Scholar
- Sylla, R. (1999) “Emerging markets in history: The United States, Japan, and Argentina,” in R. Sato, R. V. Ramachandran, and K. Mino, eds., Global competition and integration. Boston: Kluwer Academic Publishers. Chap. 19, 427–46.Google Scholar
- Sylla, R. (2010 forthcoming). “Financial Foundations: Debt Management, the National Bank, and Securities Markets,” in Founding Choices: American Economic Policy in the 1790s, Douglas Irwin and Richard Sylla, eds., Chicago: University of Chicago Press.Google Scholar