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A suspended referee in a new game – the Swedish Bank Inspection Board in the 1980s and early 1990s
Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
(English)Manuscript (preprint) (Other academic)
Abstract [en]

After the financial crisis in Sweden in the early 1990s the Bank Inspection Board, the agency responsible for the supervision of all credit institutes and the securities trade, received much criticism for its ‘evident’ failure. Despite the critique, few accounts of what the Inspection did and did not do in the decade preceding the crisis have been presented. Internationally too, empirical studies of the work of financial supervisors preceding a financial crisis are rare. This article provides the most detailed empirical account to date of the work of the Bank Inspection Board between 1980 and mid-1991.

It is found that the Inspection may have allocated too much of its scarce resources on matters not directly related to its objectives, such as consumer complaints. Support for the criticism that the supervisors lacked competence can also be found in data on the work experience of the Inspection’s staff. However, several features of the institutional structure regulating the Inspection also constrained it from adapting to the markets changes, especially the budget application process and the need for a parliament decision for the Inspection to reorganize internally. In addition, the ‘sidelined’ role of the Inspection in the ‘state control’ regulatory regime between the 1940s and late 1970s made it unprepared to adapt its regulatory enforcement during the 1980s when the Riksbank dismantled its regulatory enforcement.

Keyword [en]
Banking supervision; regulatory regimes; Sweden
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:liu:diva-77438OAI: oai:DiVA.org:liu-77438DiVA: diva2:526941
Available from: 2012-05-15 Created: 2012-05-15 Last updated: 2012-05-15Bibliographically approved
In thesis
1. Theoretical and empirical accounts of Swedish financial supervision in the twentieth century
Open this publication in new window or tab >>Theoretical and empirical accounts of Swedish financial supervision in the twentieth century
2012 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

The thesis is concerned with the history of financial supervision in Sweden during the twentieth century up to the financial crisis in the early 1990s. To this end a theoretical framework is developed which is based on institutional economics, law and economics, theories on bureaucracies, regulatory enforcement and policy analysis. Except for the attempt to propose how financial supervision and supervisors could be understood theoretically, the thesis address problems ranging from the organization of supervision in relation to regulation and the changes of the regulated market, the constraints and abilities put on supervisors in different institutional arrangements and regulatory regimes, and the competence of supervisors. The extensive use of empirical data aims to make the thesis a contribution also to financial history research in general, and the growing research on the histories of financial supervision in particular.

Place, publisher, year, edition, pages
Linköping: Linköping University Electronic Press, 2012. 106 p.
Series
Linköping Studies in Arts and Science, ISSN 0282-9800 ; 555
Keyword
Financial supervision, institutional economics, adaptive enforcement, financial history, Sweden
National Category
Economics and Business
Identifiers
urn:nbn:se:liu:diva-77439 (URN)978-91-7519-865-1 (ISBN)
Public defence
2012-06-07, C3, Hus C, Campus Valla, Linköpings universitet, Linköping, 10:15 (English)
Opponent
Supervisors
Available from: 2012-05-15 Created: 2012-05-15 Last updated: 2012-05-15Bibliographically approved

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Wendschlag, Mikael

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CiteExportLink to record
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Citation style
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  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
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  • Other style
More styles
Language
  • de-DE
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  • en-US
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  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf