The Banks of Switzerland

Abstract

All economic institutions have their roots somewhere in the past, and Swiss banking is no exception. This is why it is not possible either to understand or to appreciate the Swiss contribution to international banking during recent years without first considering its past and its background. While it might seem odd that a non-Swiss economist should even consider researching and writing on the subject of Swiss banking history and theory, there is really a good reason for it. The subject of this book has been the consequence of an immense curiosity over many years — just how have the Swiss been able to achieve in banking what other countries have not? Reading native Swiss accounts of their own national industry does not satisfy this curiosity at all. On the contrary, Swiss writers — and this is meant without any intention of adverse criticism — simply take for granted what the rest of us do not have. They lack, in a word, the objectivity of the foreigner. They also lack the theoretical framework within which Swiss banking may be compared with other systems. It is, after all, only by such comparison and contrast that the Swiss banking achievements may be appreciated.KeywordsForeign ExchangeStock ExchangeBanking SystemNote IssueSwiss FrancThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.