From Periphery to Financial Centre
AbstractThe Swedish financial market has evolved from being small and insignificant to becoming highly developed, developing from the bottom to the elite among markets. One reason for why Swedish financial markets grew exponentially during the 1980s and 90s is the process of deregulation all over the Western world. During recent decades public attitudes have evolved toward support for financial markets. This article criticises rationalist explanations with examples from a particular business sector, attending to the institutional construction of an environment around an industry. Account is taken of impulses both from foreign markets to the financial market of Stockholm, and of influence from society to markets.
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Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Business Administration with number 2003:11.
Length: 36 pages
Date of creation: 07 Jul 2003
Date of revision: 01 Aug 2003
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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, SE 113 83 Stockholm, Sweden
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financial markets; mentality; Protestantism; modernity; deregulation;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gordon L. Clark, 2002. "London in the European financial services industry: locational advantage and product complementarities," Journal of Economic Geography, Oxford University Press, vol. 2(4), pages 433-453, October.
- Michael H. Grote, 2002. "A value chain approach to financial centres - The case of Frankfurt," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 93(4), pages 412-423, 09.
- Knack, Stephen & Keefer, Philip, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 112(4), pages 1251-88, November.
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