 Recent Developments in Retail Banking in Scandinavia: Narrow v. Universal BankingTed Lindblom and Martin Andersson Chapter Chapter 10 in The Recent Evolution of Financial Systems, 1997, pp 181-202 from Palgrave Macmillan Abstract: Abstract Traditionally, banks have had a dominating role in the financial markets in Scandinavia1. There are at least two strong reasons for this. One is that banking has been a way of dealing with asymmetric information. Banks as financial intermediatries have a competitive advantage against individuals and the securities market in gathering information. The other reason, and perhaps the more important one, is that regulations have protected banks from competitive pressure. As a response to this banks are expected not to expose deposits to any large risks, to finance corporate investments, to handle a well functioning payments system and to be a channel for the implementation of the central bank’s monetary policy (Blomberg and Blix 1995). This has not been a specific situation for the Scandinavian countries, but rather the common practice throughout the world. In the mid-1980s, however, this situation began to change in many countries. The financial markets were at the time undergoing a deregulation phase. Keywords: Interest Rate; Saving Bank; Banking Activity; Bank Crisis; Payment Service (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14192-0_10 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-14192-0_10 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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