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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Main Author: DAVID G. MAYES
Format: Article in Journal/Newspaper
Language:unknown
Subjects:
Iceland
Online Access:http://onlinelibrary.wiley.com/doi/abs/10.1111/j.1468-5965.2009.02032.x
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spelling 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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collection RePEc (Research Papers in Economics)
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language unknown
description 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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