Financialisation and the financial and economic crises: the case of Sweden

    Research output: Book/ReportCommissioned report

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    Abstract

    This study on Sweden examines the Swedish financialisation process through the lens of the global financial crisis and the subsequent Eurozone sovereign debt crisis. The emphasis of the study is twofold. First, by acknowledging the rapid and widespread Swedish financialisation process, it traces the transformation of Sweden from a ‘debt-led consumption boom’ country towards an ‘export-led mercantilist’ regime. Second, by highlighting the country’s unique characteristics within such a classification, the study considers its ability to shield itself from some of the turbulence in the international financial markets following the recent crises. The outline of the report is as follows. Sections 1 and 2 provide a summary of key characteristics of the Swedish financialisation process since the 1980s. Section 3 studies the effects of the Swedish financialisation process in more detail by examining four channels in particular: investment, distribution, household consumption and the current account. Section 4 analyses the transmission mechanism of the global financial crisis and the Eurozone sovereign debt crisis vis-à-vis Sweden. Section 5 concludes.
    Original languageEnglish
    PublisherFinancialisation, Economy, Society and Sustainable Development (FESSUD)
    Commissioning bodyEuropean Commission
    Number of pages64
    Publication statusPublished - 1 Dec 2014

    Publication series

    NameFESSUD Studies in Financial Systems
    No.27
    ISSN (Print)2052-8027

    Keywords

    • Sweden
    • Swedish model
    • Eurozone crisis
    • financialisation
    • financial system
    • financial crisis
    • banking crisis

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