Major recessions in Sweden 1850–2000: From pre-capitalist to modern types of crises
2010 (English)In: Scandinavian Journal of History, ISSN 0346-8755, E-ISSN 1502-7716, Vol. 35, no 4, 403-426 p.Article in journal (Refereed) Published
This article uses historical national accounts to compare major recessions in Sweden from 1850 to 2000. A major recession is defined as an event when the Gross Domestic Product (GDP) in one year is below the level two years earlier. The sharpest declines in GDP coincided with the World Wars, crop failures and contractionary economic policies. One important distinction to be made is between pre-capitalist and modern types of crises. While the former were crises of underproduction, brought about by declines in agriculture and consumption, the latter were overproduction crises usually generated by declines in investment and industrial production. The article shows that in Sweden the transition from the one type to the other was a prolonged process.
Place, publisher, year, edition, pages
Taylor & Francis, 2010. Vol. 35, no 4, 403-426 p.
crisis, recession, GDP, capitalism
Research subject Economic History
IdentifiersURN: urn:nbn:se:su:diva-43349DOI: 10.1080/03468755.2010.524746ISI: 000285385000004OAI: oai:DiVA.org:su-43349DiVA: diva2:355977