tarkka.ppt - Writing a History of the Bank of Finland Juha...

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Writing a History of the Bank of Finland Juha Tarkka Bank of Finland
The Bank of Finland history project The Bank of Finland history project was started in 2004 Immediate reason: Bank’s 200th anniversary in 2011 Team of two researchers (Antti Kuusterä, Juha Tarkka) The aim: well-researched, objective monograph on the Bank’s development… …in the context of economic policy and financial developments in Finland and abroad Governance: an editorial committee, 50% external Currently, we are writing about the World War II period History will appear also in Swedish and English
Some observations on the history of the BoF: Established by the Russian Emperor in 1811, after Finland was separated from Sweden The only bank in the country until the 1860’s Own currency (markka) obtained in 1860, decoupled form the rouble in 1865 Control of the Bank transferred to the Finnish parliament in 1867 (following the Swedish model) On the gold standard in 1878-1914 Classical central banking model adopted by the 1890’s Finland independent in 1917, big inflation in 1917-1922 On the gold standard since 1926, sterling block 1933-

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