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Handbook of Key Global Financial Markets, Institutions, and Infrastructure by Gerard Caprio

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Chapter 26

The Financial Revolution in Sweden, 1650–1900

A. Ögren

Uppsala University, Uppsala, Sweden

Outline

Introduction

Two important lessons can be drawn from the literature on finance and growth. First, when financial systems are reasonably stable and also manage to foster economic growth, it is because the institutional framework underlying financial development is sound. Second, a sound financial infrastructure requires different complementary parts. Financial systems and financial development, ...

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