The Political Economy of Commercial Banking in Sweden: A Bird’s-eye View of the Relations between Industry and Banking over 150 Years

The Swedish commercial banks of today are the result of the great transformation in the mid-nineteenth century, but they are also an important explanation of political and economic developments from then on. These banks were at the centre of development from the start, but their role in the Swedish economy has changed through the years. The aim of this paper is to trace this changing role during a century and a half.