 Banks and Swedish financial crises in the 1920s and 1930sMikael Lonnborg, Anders Ögren and Michael Rafferty Business History, 2011, vol. 53, issue 2, 230-248 Abstract: Financial crises occur at regular and unpredictable moments in capitalist economies. However, an absence of shared theoretical approaches to and even definitions of the subject still plague the analysis of financial crises. This situation makes historical analysis even more important. This article compares two Swedish financial crises, one in the 1920s and the other in the 1930s. The comparison shows that despite their temporal and spatial proximity, the crises seemed to have had quite different underlying causes, links to international circumstances, severity, and government responses. The 1920s crisis in Sweden was for instance much deeper than the crisis in the 1930s, a marked contrast to the experience of most countries during these two periods. In focusing on the driving forces behind the crises, their development and governmental policies, the article also provides an opportunity to reflect on both financial crisis theories, on the current crisis and on recent historical research concerning crises. Keywords: financial crises; Sweden; banks; lender of last resort (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:bushst:v:53:y:2011:i:2:p:230-248 Ordering information: This journal article can be ordered from DOI: 10.1080/00076791.2011.555108 Access Statistics for this article Business History is currently edited by Professor John Wilson and Professor Steven Toms More articles in Business History from Taylor & Francis Journals |
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