The development of a modern financial sector in Sweden

Stefan Ingves and Goran Lind

Macroeconomics and Finance in Emerging Market Economies, 2008, vol. 1, issue 1, 151-163

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.

Keywords: regulation; supervision; banking reform (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1080/17520840701859112

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