Did Recent Experience of a Financial Crisis Help in Coping with the Current Financial Turmoil? The Case of the Nordic Countries
This article considers the lessons learned from the Nordic crises of the 1980s and 1990s and how far problems incurred during the present crisis stem from a failure to act on those lessons. Iceland, which was little affected on the first occasion, has had the worst crisis of any country round the wo...
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ftrepec:oai:RePEc:bla:jcmkts:v:47:y:2009:i::p:997-1015 2024-04-14T08:13:40+00:00 Did Recent Experience of a Financial Crisis Help in Coping with the Current Financial Turmoil? The Case of the Nordic Countries DAVID G. MAYES http://onlinelibrary.wiley.com/doi/abs/10.1111/j.1468-5965.2009.02032.x unknown http://onlinelibrary.wiley.com/doi/abs/10.1111/j.1468-5965.2009.02032.x article ftrepec 2024-03-19T10:38:10Z This article considers the lessons learned from the Nordic crises of the 1980s and 1990s and how far problems incurred during the present crisis stem from a failure to act on those lessons. Iceland, which was little affected on the first occasion, has had the worst crisis of any country round the world while Finland, which was worst affected last time, has come through almost unscathed. The ways of avoiding problems caused by having cross-border banks, a feature that did not exist on the previous occasion, were known but it has taken a second crisis to get governments to act. Copyright (c) 2009 The Author(s). Journal compilation (c) 2009 Blackwell Publishing Ltd. Article in Journal/Newspaper Iceland RePEc (Research Papers in Economics) |
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This article considers the lessons learned from the Nordic crises of the 1980s and 1990s and how far problems incurred during the present crisis stem from a failure to act on those lessons. Iceland, which was little affected on the first occasion, has had the worst crisis of any country round the world while Finland, which was worst affected last time, has come through almost unscathed. The ways of avoiding problems caused by having cross-border banks, a feature that did not exist on the previous occasion, were known but it has taken a second crisis to get governments to act. Copyright (c) 2009 The Author(s). Journal compilation (c) 2009 Blackwell Publishing Ltd. |
format |
Article in Journal/Newspaper |
author |
DAVID G. MAYES |
spellingShingle |
DAVID G. MAYES Did Recent Experience of a Financial Crisis Help in Coping with the Current Financial Turmoil? The Case of the Nordic Countries |
author_facet |
DAVID G. MAYES |
author_sort |
DAVID G. MAYES |
title |
Did Recent Experience of a Financial Crisis Help in Coping with the Current Financial Turmoil? The Case of the Nordic Countries |
title_short |
Did Recent Experience of a Financial Crisis Help in Coping with the Current Financial Turmoil? The Case of the Nordic Countries |
title_full |
Did Recent Experience of a Financial Crisis Help in Coping with the Current Financial Turmoil? The Case of the Nordic Countries |
title_fullStr |
Did Recent Experience of a Financial Crisis Help in Coping with the Current Financial Turmoil? The Case of the Nordic Countries |
title_full_unstemmed |
Did Recent Experience of a Financial Crisis Help in Coping with the Current Financial Turmoil? The Case of the Nordic Countries |
title_sort |
did recent experience of a financial crisis help in coping with the current financial turmoil? the case of the nordic countries |
url |
http://onlinelibrary.wiley.com/doi/abs/10.1111/j.1468-5965.2009.02032.x |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
http://onlinelibrary.wiley.com/doi/abs/10.1111/j.1468-5965.2009.02032.x |
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