Download or read book The Great Financial Crisis in Finland and Sweden written by Lars Jonung and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nordic financial crisis had it all: a botched liberalization, a huge boom followed by an even bigger bust, massive taxpayer-financed bailouts and, finally, deep long-run gains. The first-class team of scholars mobilized in this book convincingly tell a story that should be carefully studied by economists, bankers and policymakers. After this book, no one should be able to say: If we only knew ! Charles Wyplosz, Graduate Institute of International Studies, Geneva, Switzerland The financial crisis in Scandinavia in the early 1990s was a forerunner of the later world-wide crisis in 2007/8. Although the initial causation was different, the impact on their banks, though more localised, was just as severe. So we can benefit, and already policymakers have done so, from learning the lessons in this book on how to restore shattered banking systems to health. For this we owe a debt of gratitude to the editors, who have put together a series of key papers that emerged from a much larger exercise on the crisis that was earlier reported in four volumes in Swedish and Finnish. Amongst the many studies on current and past financial crises, this is a classic must-read . Charles A.E. Goodhart, London School of Economics, UK The Nordic experience with financial crisis resolution could not be more timely. Everyone cites it as an example of how it should be done , but rarely does one find careful and detailed analysis. Now policymakers and others searching for guidance will know where to look. Barry Eichengreen, University of California, Berkeley, US Following World War II, Nordic countries were commonly regarded as successful and stable economies. This perception was, however, shattered in the early 1990s when Finland and Sweden encountered severe financial crises. Here, the authors explore the symptoms of financial crisis decreasing real income, soaring unemployment and exploding public deficits and their devastating effects. The book compares and contrasts the experiences of Finland and Sweden, then adopts an international perspective, encompassing the experiences of Asia, Latin America, Denmark and Norway. Lessons from the 1990s crisis are drawn, and possible solutions prescribed. The conclusion is that long-term effects of financial crises financial liberalization and integration are not as dramatic as the short-term effects, but may prove to be of greater importance over time. Only the future will show whether these long-term benefits will balance or even outweigh the enormous short-term costs of the crises. Highly relevant to the current international financial crisis currently afflicting the world economy, this timely book will prove invaluable to economists and other social scientists with a general interest in financial crises, and to those with a more specific interest in the evolution and models of Scandinavian economies.
Download or read book The Great Financial Crisis in Finland and Sweden written by Lars Jonung and published by . This book was released on 2008 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper explores the anatomy of the boom, deep depression and recovery in the Finnish and Swedish economies in the period 1985-2000. These fifteen years are divided into three phases: (1) financial liberalization and the boom and the overheating of 1985-90, (2) the outbreak and spread of the crisis to all sectors of the economy in 1990-92, and (3) the recovery 1993-2000. Each period is analyzed separately."--Publication information page.
Download or read book The Great Financial Crisis in Finland and Sweden written by Lars Jonung and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the anatomy of the boom, deep depression and recovery in the Finnish and Swedish economies in the period 1985-2000. These fifteen years are divided into three phases: (1) financial liberalization and the boom and the overheating of 1985-90, (2) the outbreak and spread of the crisis to all sectors of the economy in 1990-92, and (3) the recovery 1993-2000.
Download or read book The Global Financial Crisis in Denmark Finland and Sweden written by Leszek Lesniewski and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the Nordic states (Denmark, Finland and Sweden) during the global crisis in the period 2007-2012. The Nordic states have a high rate of socio-economic growth and competitive advantage but Denmark, Finland and Sweden still experienced the global crisis.However, the global financial crisis followed different paths in these countries. As a result, the economic effects of the crisis in Denmark, Sweden and Finland were better, compared to other advanced economies of European Union. The aim of this paper is to present a comparative study of the reaction of the Nordic states to the financial crisis and the economic crisis.
Download or read book The Nordic Banking Crisis written by Mr.Burkhard Drees and published by International Monetary Fund. This book was released on 1998-04-20 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the banking crises in Finland, Norway and Sweden, which took place in the early 1990s, and draws some policy conclusions from their experiences. One key conclusion is that factors in addition to business cycle effects explain the Nordic countries financial problems. Although the timing of the deregulation in all three countries coincided with a strongly expansionary macroeconomic momentum, the main reasons for the banking crises were the delayed policy responses, the structural characteristics of the financial systems, and the banks inadequate internal risk-management controls.
Download or read book National Intellectual Capital and the Financial Crisis in Denmark Finland Iceland Norway and Sweden written by Carol Yeh-Yun Lin and published by Springer Science & Business Media. This book was released on 2013-11-19 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the first decade of the twenty-first century, the biggest event of worldwide proportion was the 2008 global financial crisis, which was caused primarily by ineffective governance, failed surveillance systems, and implementation flaws. While fiscal and monetary policies succeeded in pulling many countries out of a financial freefall, most economies have performed beneath pre-recession levels as governments continued to struggle with their finances. Examining the financial crisis from the viewpoint of intangible assets provides a different perspective from traditional economic approaches. National Intellectual Capital (NIC), comprised mainly of human capital, market capital, process capital, renewal capital, and financial capital, is a valuable intangible asset and a key source of national competitive advantage in today’s knowledge economy. The authors—pioneers in the field—present extensive data and a rigorous conceptual framework to analyze the connections between the global financial crisis and NIC development. Covering the period from 2005 to 2010 across 48 countries, the authors establish a positive correlation between NIC and GDP per capita and consider the impact of NIC investment for short-term recovery and long-term risk control and strategy formulation. Each volume in a series of SpringerBriefs on NIC and the financial crisis provides in-depth coverage of the impact of the crisis, the aftermath, future prospects, and policy implications for a regional cluster. This volume focuses on Denmark, Finland, Iceland, Norway, and Sweden.
Download or read book Financial Markets of Denmark Finland and Sweden During the Global Crisis and the 80s and 90s Crises of the Twentieth Century written by Leszek Lesniewski and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this paper is to present functioning of financial markets in the Nordic countries. This paper explores financial markets of Denmark, Finland and Sweden during the global crisis and the 80s and 90s crises of the twentieth century. The article presents the results of researches for money market, capital market, foreign exchange market, banking sector and public finances sector. The paper analyses experience and differential reaction of Danish, Finnish and Swedish financial markets to global crisis. Based on studies, the Nordic crises and the global crisis, had a different course. The experience of the 80s and 90s, contributed to a better reaction of the financial markets in the Nordic countries, to the global crisis. The case studies for financial markets, confirmed that the greatest changes in financial markets occurred in Denmark and Finland and lowest in Sweden.
Download or read book Effects of Global Financial Crisis for Economic Development of Denmark Finland and Sweden written by Leszek Lesniewski and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The article focuses the nordic model and socio-economic situation of Denmark, Finland and Sweden in 2007-2013 during the global crisis. The Nordic states have high rate of socio-economic growth but the crisis has affected the socio-economic development of these countries. The paper deals with anti-crisis measures in Denmark, Finland and Sweden.The aim of this paper is to present comparative study of the global crisis effects on socio-economic development of Denmark, Finland and Sweden.
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Welfare and the Great Recession written by Stefán Ólafsson and published by Oxford University Press. This book was released on 2019-01-10 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Welfare and the Great Recession surveys and analyses welfare consequences in the period following the financial crisis in Europe. It investigates how the burdens of the recession were shared between countries, between different socio-economic groups across Europe, and within individual countries, and offers new evidence that demonstrates the importance of the welfare state and government policies in sheltering populations from serious economic contraction. The first comprehensive study of the Great Recession in Europe that focuses on household level welfare consequences, this edited volume relates financial hardship to institutional characteristics such as welfare regimes, currency regimes, socio-political patterns, affluence levels, public debt, and policy reactions to periods of crisis. It takes into account stimulus versus austerity, the degree of social protection emphasis, the commitment to redistribution, and the significance of activism. Widely comparative, Welfare and the Great Recession combines comparisons of thirty countries with an in-depth study of nine country cases to offer various lessons from the crisis experience in Europe and reflect on welfare futures in a globalized crisis-prone environment.
Download or read book The Boom bust Cycle in Finland and Sweden 1984 1995 in an International Perspective written by Lars Jonung and published by . This book was released on 2005 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Nordics in Global Crisis written by Thorvaldur Gylfason and published by . This book was released on 2010 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Democracy and the Economy in Finland and Sweden since 1960 written by Ilkka Kärrylä and published by Springer Nature. This book was released on 2021-10-01 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the relationship between democracy and the economy in contemporary political thought and policy-making. Using the concepts of economic, industrial and enterprise democracy, the author focuses on the history of Finland and Sweden during the latter part of the twentieth century. The three concepts are discussed in relation to various political groups, such as social democrats, conservatives and liberals, and the reforms that they were associated with, painting a picture of changing economic thought in the Nordic countries, and the West more generally. Arguing that the concept of democracy has evolved from representative parliamentary democracy towards ‘participation’ in civil society, this book demonstrates how the ideal of individual freedom and choice has surpassed collective decision-making. These shared characteristics between Finland, Sweden and other Western countries challenge the view that the Nordic countries have been exceptional in resisting neoliberalism. In fact, as this book shows, neoliberalism has been influential to the Nordics since the 1970s. Offering an innovative and conceptual perspective on European political history, this book will appeal to scholars interested in Nordic political history and modern European history more generally.
Download or read book The Road to Prosperity written by Jari Ojala and published by Suomalaisen Kirjallisuuden Seura. This book was released on 2006 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Finnish economy is a victory over hardship, a success story with few equivalents. During the period 1860-2000 the gross domestic product grew 21-fold, while EU nations on average achieved 11-fold growth. Today, Finland is known for its competitiveness, high educational standards, negligible corruption, expertise in creating and using high technology, and successful companies, most notably Nokia. This book tells how Finland astonishingly evolved from an internationally insignificant agrarian economy to the affluent, knowledge-based, welfare society that it is now. The Road to Prosperity: An Economic History of Finland offers an overview of several centuries of economic progress -- with a keen eye on negative effects of growth. The articles in this beautifully illustrated work contain long-term analyses of business, foreign trade, agriculture, and employment. In addition, there is coverage of the development of banking, the public sector, income distribution, the advance of the information society, and welfare. And the Finnish story is woven seamlessly into the tapestry of international economics. The contributors are prominent scholars of Finnish economic history and economics; the foreword being a product of distinguished American economic historian Joel Mokyr, winner of the Heineken Prize for History 2006.
Download or read book National Intellectual Capital written by Carol Yeh-Yun Lin and published by Springer Science & Business Media. This book was released on 2010-10-29 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade, knowledge assets and intellectual capital have been attracting an increasing amount of attention, not only from academics and CEOs, but also from national policy makers. To date, most studies of intellectual capital have focused at the organizational level, with an emphasis on explaining the role of “intangible assets” as a differentiator between accounting value and market value as a possible source of corporate competitive advantage. More recently, pioneers in the field, including the authors of this book, have begun to apply these methodologies to a broader scope, with the objective of comparing the intellectual capital indices at the national or regional level. As a result, an increasing number of world organizations and researchers are commissioned to investigate this future-oriented crucial national issue. Yet, the linkage between the value of intangible assets and how to quantify or benchmark it is still tenuous, not to mention easily misunderstood by a layman for guiding better decision making. With the belief that numbers talk and statistics hide valuable information, this book serves to present the authors’ research findings, covering 14 years (1995-2008) of intellectual capital information, comprised of human capital, market capital, process capital, renewal capital, and financial capital for 40 countries. The last three chapters go beyond analysis of current intellectual capital factors, and present practical tools for launching initiatives at the national level. The book will serve as an essential resource for researchers, policy makers, and business leaders concerned with issues of economic growth and competitiveness, innovation, and business creation.
Download or read book Sweden written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-11-17 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the findings of the Financial System Stability Assessment for Sweden. The Swedish financial system is large and highly interconnected, putting a premium on the accompanying policy framework. Relative to the size of the domestic economy, the financial system is among Europe’s largest. It features complex domestic and international linkages, reflecting Sweden’s role as a regional financial hub. However, the macrofinancial risks have grown since 2011, for example the rising share of highly indebted households. Stress tests also suggest that banks and nonbanks are largely resilient to solvency shocks, but concerns persist about the ability of bank models to capture unexpected losses.
Download or read book Bulletin written by and published by . This book was released on 2009 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
