Scandinavian Working Papers in Economics
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The Economic Research Institute, Stockholm School of Economics SSE/EFI Working Paper Series in Business Administration

No 2003:11:
From Periphery to Financial Centre

Peter Norberg ()

Abstract: The Swedish financial market has evolved from being small and insignificant to becoming highly developed, developing from the bottom to the elite among markets. One reason for why Swedish financial markets grew exponentially during the 1980s and 90s is the process of deregulation all over the Western world. During recent decades public attitudes have evolved toward support for financial markets.

This article criticises rationalist explanations with examples from a particular business sector, attending to the institutional construction of an environment around an industry. Account is taken of impulses both from foreign markets to the financial market of Stockholm, and of influence from society to markets.

Keywords: financial markets; mentality; Protestantism; modernity; deregulation; (follow links to similar papers)

36 pages, July 7, 2003, Revised December 13, 2005

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