Financialisation and the Financial and Economic Crises: The Case of Sweden

Alexis Stenfors

FESSUD studies from Financialisation, Economy, Society & Sustainable Development (FESSUD) Project

Abstract: This study on Sweden examines the Swedish financialisation process through the lens of the global financial crisis and the subsequent Eurozone sovereign debt crisis. The emphasis of the study is twofold. First, by acknowledging the rapid and widespread Swedish financialisation process, it traces the transformation of Sweden from a ‘debt-led consumption boom’ country towards an ‘export-led mercantilist’ regime. Second, by highlighting the country’s unique characteristics within such a classification, the study considers its ability to shield itself from some of the turbulence in the international financial markets following the recent crises. The outline of the report is as follows. Sections 1 and 2 provide a summary of key characteristics of the Swedish financialisation process since the 1980s. Section 3 studies the effects of the Swedish financialisation process in more detail by examining four channels in particular: investment, distribution, household consumption and the current account. Section 4 analyses the transmission mechanism of the global financial crisis and the Eurozone sovereign debt crisis vis-a-vis Sweden. Section 5 concludes.

Keywords: Sweden; Swedish model; financialisation; financial system; financial crisis; banking crisis; Eurozone crisis (search for similar items in EconPapers)
JEL-codes: E44 F3 G2 N14 N24 O52 P16 (search for similar items in EconPapers)
Pages: 64 pages
Date: 2014-12-01
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://fessud.eu/wp-content/uploads/2012/08/Stenfo ... f-Sweden_study27.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fes:fstudy:fstudy27

Access Statistics for this paper

More papers in FESSUD studies from Financialisation, Economy, Society & Sustainable Development (FESSUD) Project FESSUD Co-ordinator (Malcolm Sawyer) Leeds University Business School Maurice Keyworth Buidling Leeds LS2 9JT.
Bibliographic data for series maintained by Helen Evans (fessud@leeds.ac.uk this e-mail address is bad, please contact repec@repec.org).