Learning from the “worst behaved”: Iceland's financial crisis and the Nordic comparison
Abstract This article explores how the financial crisis in 2008 could have been partially avoided by Iceland through observing the warning signs. Iceland experienced the harshest consequences from the financial crisis in the Western world, such as the total collapse of its banking sector. This artic...
| Published in: | Thunderbird International Business Review |
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| Main Authors: | , |
| Format: | Article in Journal/Newspaper |
| Language: | English |
| Published: |
Wiley
2011
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| Subjects: | |
| Online Access: | http://dx.doi.org/10.1002/tie.20402 https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1002%2Ftie.20402 https://onlinelibrary.wiley.com/doi/pdf/10.1002/tie.20402 |
| Summary: | Abstract This article explores how the financial crisis in 2008 could have been partially avoided by Iceland through observing the warning signs. Iceland experienced the harshest consequences from the financial crisis in the Western world, such as the total collapse of its banking sector. This article compares the prelude of Iceland's financial crisis to the Scandinavian one, less than 20 years ago, providing an understanding of the sources of the crisis and its impact. Results show that signs of overexpansion in Iceland were clear and numerous. Iceland's structural weaknesses resemble many other badly hit countries, simply more extreme. © 2011 Wiley Periodicals, Inc. |
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