Peter Norberg: Dept. of Business Administration, Stockholm School of Economics, Postal: Stockholm School of Economics, P.O. Box 6501, SE-113 83 Stockholm, Sweden
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.
36 pages, First version: July 7, 2003. Revised: December 13, 2005. Earlier revisions: August 1, 2003, January 8, 2004, January 14, 2004, January 14, 2004, January 19, 2005.
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