Governance and Degrowth. Lessons from the 2008 Financial Crisis in Latvia and Iceland
This paper investigates the role of governance dimensions in socio-economic transitions in line with degrowth, i.e., an equitable downscaling of the economy. Our focus is on experiences from the 2008 economic crisis in Latvia and Iceland. Although these cases are not in themselves examples of degrow...
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ftmdpi:oai:mdpi.com:/2071-1050/11/6/1734/ 2023-08-20T04:07:20+02:00 Governance and Degrowth. Lessons from the 2008 Financial Crisis in Latvia and Iceland Åsa Nyblom Karolina Isaksson Mark Sanctuary Aurore Fransolet Peter Stigson agris 2019-03-22 application/pdf https://doi.org/10.3390/su11061734 EN eng Multidisciplinary Digital Publishing Institute Social Ecology and Sustainability https://dx.doi.org/10.3390/su11061734 https://creativecommons.org/licenses/by/4.0/ Sustainability; Volume 11; Issue 6; Pages: 1734 degrowth equitable downscaling governance institutions policy radical socio-economic transitions Text 2019 ftmdpi https://doi.org/10.3390/su11061734 2023-07-31T22:08:12Z This paper investigates the role of governance dimensions in socio-economic transitions in line with degrowth, i.e., an equitable downscaling of the economy. Our focus is on experiences from the 2008 economic crisis in Latvia and Iceland. Although these cases are not in themselves examples of degrowth, we see them as important sources of empirical learning from major socio-economical transitions; furthermore, we see crises as possible starting points for future degrowth transitions. This paper applies a governance framework to explore the vast differences in management strategies and crisis outcomes in Latvia and Iceland. In Iceland, public resistance led to a shift in policy measures such that economic inequality and the negative social consequences of the crisis decreased. In Latvia, public resistance existed but had no strong influence. The outcome in Latvia included none of the elements of equitable downscaling found in the case of Iceland. These two cases show how differences in formal institutional arrangements, political culture and societal trust affect different governance dimensions during a time of crisis. The analysis illustrates the importance of institutional and governance dimensions in major socio-economical transitions, and demonstrates how they influence the kind of transition that can be realized. Text Iceland MDPI Open Access Publishing Sustainability 11 6 1734 |
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MDPI Open Access Publishing |
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language |
English |
topic |
degrowth equitable downscaling governance institutions policy radical socio-economic transitions |
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degrowth equitable downscaling governance institutions policy radical socio-economic transitions Åsa Nyblom Karolina Isaksson Mark Sanctuary Aurore Fransolet Peter Stigson Governance and Degrowth. Lessons from the 2008 Financial Crisis in Latvia and Iceland |
topic_facet |
degrowth equitable downscaling governance institutions policy radical socio-economic transitions |
description |
This paper investigates the role of governance dimensions in socio-economic transitions in line with degrowth, i.e., an equitable downscaling of the economy. Our focus is on experiences from the 2008 economic crisis in Latvia and Iceland. Although these cases are not in themselves examples of degrowth, we see them as important sources of empirical learning from major socio-economical transitions; furthermore, we see crises as possible starting points for future degrowth transitions. This paper applies a governance framework to explore the vast differences in management strategies and crisis outcomes in Latvia and Iceland. In Iceland, public resistance led to a shift in policy measures such that economic inequality and the negative social consequences of the crisis decreased. In Latvia, public resistance existed but had no strong influence. The outcome in Latvia included none of the elements of equitable downscaling found in the case of Iceland. These two cases show how differences in formal institutional arrangements, political culture and societal trust affect different governance dimensions during a time of crisis. The analysis illustrates the importance of institutional and governance dimensions in major socio-economical transitions, and demonstrates how they influence the kind of transition that can be realized. |
format |
Text |
author |
Åsa Nyblom Karolina Isaksson Mark Sanctuary Aurore Fransolet Peter Stigson |
author_facet |
Åsa Nyblom Karolina Isaksson Mark Sanctuary Aurore Fransolet Peter Stigson |
author_sort |
Åsa Nyblom |
title |
Governance and Degrowth. Lessons from the 2008 Financial Crisis in Latvia and Iceland |
title_short |
Governance and Degrowth. Lessons from the 2008 Financial Crisis in Latvia and Iceland |
title_full |
Governance and Degrowth. Lessons from the 2008 Financial Crisis in Latvia and Iceland |
title_fullStr |
Governance and Degrowth. Lessons from the 2008 Financial Crisis in Latvia and Iceland |
title_full_unstemmed |
Governance and Degrowth. Lessons from the 2008 Financial Crisis in Latvia and Iceland |
title_sort |
governance and degrowth. lessons from the 2008 financial crisis in latvia and iceland |
publisher |
Multidisciplinary Digital Publishing Institute |
publishDate |
2019 |
url |
https://doi.org/10.3390/su11061734 |
op_coverage |
agris |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
Sustainability; Volume 11; Issue 6; Pages: 1734 |
op_relation |
Social Ecology and Sustainability https://dx.doi.org/10.3390/su11061734 |
op_rights |
https://creativecommons.org/licenses/by/4.0/ |
op_doi |
https://doi.org/10.3390/su11061734 |
container_title |
Sustainability |
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11 |
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6 |
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1734 |
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