Catalogue


The Swedish financial revolution /
edited by Anders Ögren.
imprint
New York : Palgrave Macmillan, 2010.
description
xvi, 230 p.
ISBN
0230234046 (hardback), 9780230234048 (hardback)
format(s)
Book
Holdings
More Details
added author
imprint
New York : Palgrave Macmillan, 2010.
isbn
0230234046 (hardback)
9780230234048 (hardback)
contents note
Machine generated contents note: Notes on ContributorsThe Swedish Financial Revolution: An In-Depth Study; A.ÖgrenThe Early Modern Financial System and the Informal Credit Market; K.NybergThe Revolution of a Market for Household Savers, 1820--1910; K.LiljaThe Growth and Characteristics of Bank Lending, 1860 --1910; T.PeterssonThe Modernization of the Bank of Sweden, 1850--1880; A.ÖgrenThe Evolution of Secondary Financial Markets, 1820--1920; H.LindgrenFinancial Market Integration, 1830--1890; H.LobellIncorporation and Financial Modernization; O.BrobergThe Financial Revolution and the Insurance Industry; M.Lönnborg & M.OlssonThe State and the Financial System -- Regulation and Regime Change around 1900; M.LarssonInstitutional Clash and Financial Fragility: Sweden's Financial Crises; H.Sjögren & S.KnutsenWhat We Can Learn from the Swedish Financial Revolution: An International Comparison; A.Ögren & R.SyllaNotesBibliographyIndex Notes on ContributorsThe Swedish Financial Revolution: An In-Depth Study; A.ÖgrenThe Early Modern Financial System and the Informal Credit Market; K.NybergThe Revolution of a Market for Household Savers, 1820--1910; K.LiljaThe Growth and Characteristics of Bank Lending, 1860--1910; T.PeterssonThe Modernization of the Bank of Sweden, 1850--1880; A.ÖgrenThe Evolution of Secondary Financial Markets, 1820--1920; H.LindgrenFinancial Market Integration, 1830--1890; H.LobellIncorporation and Financial Modernization; O.BrobergThe Financial Revolution and the Insurance Industry; M.Lönnborg & M.OlssonThe State and the Financial System - Regulation and Regime Change around 1900; M.LarssonInstitutional Clash and Financial Fragility: Sweden's Financial Crises; H.Sjögren & S.KnutsenWhat We Can Learn from the Swedish Financial Revolution: An International Comparison; A.Ögren & R.SyllaNotesBibliographyIndex.
abstract
"How did Sweden go from a financially backward country to one with a well functioning financial system? Why did this financial revolution occur after the mid-nineteenth century and not before? This book discusses the role of politics and economics in this change and what it means for economic development, market integration and financial crises"--Provided by publisher.
catalogue key
7129525
 
Includes bibliographical references and index.
A Look Inside
About the Author
Author Affiliation
Anders gren is Assistant Professor at EHFF - The Institute for Research in Economic History, Stockholm School of Economics, Sweden, and Lecturer at Institute d'tudes Politiques de Paris (SciencesPo), France. He is also Associated Researcher at both EconomiX, Universit de Paris Ouest Nanterre La Deacut;efense, France, and UCBH - Uppsala Center for Business History, Uppsala University, Sweden. gren's main research fields are financial and monetary history, and history of economic thought on which he has published in edited collections and several international journals.
Summaries
Bowker Data Service Summary
How did Sweden go from a financially backward country to one with a functioning financial system? Why did this revolution occur after the mid-19th century and not before? This text discusses the role of politics and economics in this change and what it means for economic development, market integration and financial crises.
Description for Bookstore
How and why Sweden went from a financial desert to a well-functioning financial system during the latter half of the nineteenth century
Long Description
How could Sweden go from a financially backward country to one with a well-functioning financial system? Why did this financial revolution occur after the mid-nineteenth century and not before? What was the role of politics and what was the role of economics in this change? What did this financial revolution mean for the economic development, market integration and financial crises? These are some of the issues explored in this book. Today the existence of a financial system might be taken for granted in all economically developed countries. It is hard to imagine society without one. Despite financial setbacks and problems, as today during the financial crisis, there is no doubt that a well-functioning financial system promotes economic wealth. However, in Sweden finance was, for a long time and until recently, a matter that concerned only a few people. During a short period of time from the 1850s to the 1870s many institutional and organizational changes spurred a rapidly increasing financial deepening that took off in the late 1860s. But as finance becomes a matter for the general public, so do financial crises. This books tells us why and how this financial revolution took place and how it affected not only all sectors of the economy but also politics
Library of Congress Summary
"How did Sweden go from a financially backward country to one with a well functioning financial system? Why did this financial revolution occur after the mid-nineteenth century and not before? This book discusses the role of politics and economics in this change and what it means for economic development, market integration and financial crises"--Provided by publisher.
Main Description
How did Sweden go from a financially backward country to one with a well functioning financial system? Why did this financial revolution occur after the mid-nineteenth century and not before? This book discusses the role of politics and economics in this change and what it means for economic development, market integration and financial crises.
Table of Contents
List of Illustrationsp. x
Notes on Contributorsp. xii
The Swedish Financial Revolution: An In-Depth Studyp. 1
Introductionp. 1
The financial revolutionp. 2
Finance and growthp. 4
The Swedish financial revolutionp. 5
Institutional changes and the financial revolutionp. 10
Aim of this bookp. 11
Notesp. 11
Referencesp. 12
The Early Modern Financial System and the Informal Credit Marketp. 14
Introductionp. 14
Financial and currency problems in early modern Swedenp. 14
The Swedish credit market, 1720-1834p. 18
The private credit marketp. 19
Public lendingp. 22
The manufacturing discount bank: A state industry-financed bankp. 24
The road to the 1834 currency reformp. 26
The background to the 1777 and 1803 currency reformsp. 26
The 1830s: The parliament finally takes control of financial powerp. 29
Epilogue: The manufacturing discount bank's contribution to the nineteenth centuryp. 30
Notesp. 31
Referencesp. 34
The Deposit Market Revolution in Swedenp. 41
Introductionp. 41
The deposit market revolutionp. 42
The early stage, 1820-1860p. 43
Savings banks being market makersp. 44
Commercial banks entering the deposit market arenap. 47
The early depositorsp. 49
Expansion and breakthrough, 1860-1880p. 51
Savings banks' accelerating growth on the deposits marketp. 51
Commercial banks become more interested in depositsp. 52
A market for life insurancep. 53
Post deposit revolution, 1880-1913p. 54
New actors enter the arenap. 55
The deposit market enters a more mature stagep. 56
The modern saver enters the deposit market arenap. 57
Conclusionp. 58
Notesp. 59
Referencesp. 61
Cooperation, Interbank Markets and Bank-Industry Networks: The Growth and Characteristics of Swedish Bank Lending, 1860-1910p. 64
Introductionp. 64
What was the problem and who was going to solve it?p. 67
Cooperation and the establishment of interbank marketsp. 69
Local bank-industry networks and insider lendingp. 72
Conclusionp. 74
Notesp. 75
Referencesp. 76
The Modernization of the National Bank of Sweden: The Riksbankp. 79
Introductionp. 79
Responsibility of the currency and issuance of base money: Monetary policy of the Riksbankp. 80
The Riksbank as the bank of the state: The importance of the National Debt Officep. 85
The Riksbank as the bankers' bankp. 88
The Riksbank as lender of last resortp. 90
Conclusionp. 91
Notesp. 92
Referencesp. 93
The Evolution of Secondary Financial Markets, 1820-1920p. 95
Introductionp. 95
The rise of secondary financial markets in Sweden: Quantitative evidencep. 96
Trading securities pre-financial revolutionp. 98
The establishment of an exchange for the trading of securitiesp. 101
Market efficiency and market breadth: Stock market modernization, 1900-1920p. 105
Concentration of exchange to get reliable prices and public control to enhance stability and trust - two instrumental explanationsp. 108
Notesp. 110
Referencesp. 111
Market Integration 1830-1890p. 113
Introductionp. 113
The payments system and credit instrumentsp. 115
Commercial banks and integrationp. 120
Conclusionp. 124
Notesp. 124
Referencesp. 125
Incorporation and Financial Modernizationp. 128
Introductionp. 128
The demand for incorporationp. 131
Iron-works and the law of 1848p. 131
The modern company law of 1895p. 133
The breakthrough for the limited liability joint-stock companyp. 134
Incorporating new sectorsp. 134
New ventures and the transformation of older firmsp. 137
Incorporation and financial modernizationp. 138
The transformation of capitalp. 138
Commercial banks, at the centre of developmentp. 140
Conclusionp. 141
Notesp. 142
Referencesp. 143
The Swedish Financial Revolution and the Insurance Industryp. 145
Introductionp. 145
The formation of a modern insurance marketp. 147
Legislation and the insurance industryp. 150
Insurance as a source of external finance - financing the industrial revolution?p. 151
Insurance as a source of external finance - three case studiesp. 154
The bond portfolio of Skandia, 1878-1915p. 159
Conclusionp. 162
Notesp. 168
Referencesp. 168
The State and the Financial System: Regulation and Regime Change around 1900p. 170
Introductionp. 170
The need for capital - an organizational perspectivep. 171
The financing of the building sectorp. 172
Industrial financingp. 174
The growth of the Stockholm stock marketp. 176
Institutional changes under the second financial revolutionp. 176
Commercial banksp. 177
Savings banksp. 178
Insurance companiesp. 179
Conclusionp. 179
Notesp. 180
Referencesp. 181
Why do Banking Crises Occur? An Evolutionary Model of Swedish Banking Crisesp. 183
Introductionp. 183
Kindleberger's stage-modelp. 184
Market psychology, speculation and rhetoricp. 185
An evolutionary model for banking crisesp. 186
Conceptual frameworkp. 188
Empirical analysis - three Swedish banking crisesp. 190
p. 190
p. 195
p. 197
Conclusionp. 200
Notesp. 201
Referencesp. 202
What we can Learn from the Swedish Financial Revolution: An International Comparisonp. 204
Introductionp. 204
The financial revolution as a modelp. 204
The financial revolution - international experiencesp. 208
The Swedish financial revolution - a summaryp. 213
Notesp. 222
Referencesp. 222
Indexp. 225
Table of Contents provided by Ingram. All Rights Reserved.

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