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The development of a modern financial sector in Sweden

Author

Listed:
  • Stefan Ingves
  • Goran Lind

Abstract

Macro economic development must be supported by a stable and efficient financial system. Excessive and inappropriate regulation of the financial system will restrain its functions and may lead to less than optimal resource allocation. But the transition from a highly regulated system must be carefully planned and orchestrated and several mistakes in this regard were made in the Swedish case, eventually leading to a systemic banking crisis. After the crisis, modern forms of regulation and supervision have been introduced leading to a successful and stable financial sector. Experiences from the Swedish case can be applied to many other financial systems, developed as well as emerging.

Suggested Citation

  • Stefan Ingves & Goran Lind, 2008. "The development of a modern financial sector in Sweden," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 1(1), pages 151-163.
    • Handle: RePEc:taf:macfem:v:1:y:2008:i:1:p:151-163
    DOI: 10.1080/17520840701859112
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