In this paper we provide an overview of the historical development of the insurance market in Sweden from the eighteenth century up to modern times. We consider theoretical perspectives drawn from the economics and political regulation literature that might help to explain important...

Building on the view that financial systems from contract and trading structures through regulation are artifacts of law and politics, this paper analyzes the fundamental reasons for the observed hierarchy in all financial systems. Why are financial systems hierarchical? The answer offered here...

In this article we estimate the long-run development of genuine savings in Sweden during the period 1850 to 2000. By doing so we are able to present a first analysis of long-run sustainable development during a single country's transition to modern economic growth rates and high income levels....

Using a novel dataset of regional GDP per worker from 1860 to 2009, this paper analyzes communalities in regional long-term growth trajectories for 24 Swedish regions. Wavelet Analysis and Principal Component Analysis are used to decompose regional growth trajectories and assess the extent that...

Using Swedish historical national accounts, this paper shows that, up to the 1970s, there has been a secular rise in the national capital/output ratio and a secular fall in the rate of exploitation, which tended to depress the profit rate. In Sweden, the nominal capital/output ratio increased...

Contribution to the panel session at the Hoover Institution conference on “Frameworks for Monetary Policy for the Next Century,” May 30, 2014.