Iceland's Financial Crisis in 2008. Political, Economic and Social Consequences
The author analyzes the successful strategy of overcoming financial breakdown in the case study of Iceland. The aim of the article is to verify a hypothesis that the Icelandic model could become a panacea for future crises? A document analysis method is applied to present essential indicators such a...
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ftunivlodzojs:oai:czasopisma.uni.lodz.pl:article/2758 2023-05-15T16:47:22+02:00 Iceland's Financial Crisis in 2008. Political, Economic and Social Consequences Legutko, Agnieszka Joanna 2017-12-30 application/pdf https://czasopisma.uni.lodz.pl/international/article/view/2758 https://doi.org/10.1515/ipcj-2017-0020 eng eng Lodz University Press https://czasopisma.uni.lodz.pl/international/article/view/2758/2372 https://czasopisma.uni.lodz.pl/international/article/view/2758 doi:10.1515/ipcj-2017-0020 Copyright (c) 2017 International Studies. Interdisciplinary Political and Cultural Journal https://creativecommons.org/licenses/by-nc-nd/4.0 CC-BY-NC-ND International Studies. Interdisciplinary Political and Cultural Journal; Vol. 20 No. 1 (2017): Northern Europe. New Political, Economic and Social Trends; 113-130 International Studies. Interdisciplinary Political and Cultural Journal; Tom 20 Nr 1 (2017): International Studies. Interdisciplinary Political and Cultural Journal; 113-130 2300-8695 1641-4233 Iceland small state economy Icelandic crisis causes Icelandic crisis 2008 Icelandic banking system Icelandic EU accession info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 2017 ftunivlodzojs https://doi.org/10.1515/ipcj-2017-0020 2022-02-08T22:34:47Z The author analyzes the successful strategy of overcoming financial breakdown in the case study of Iceland. The aim of the article is to verify a hypothesis that the Icelandic model could become a panacea for future crises? A document analysis method is applied to present essential indicators such as GDP and trade balance. With the use of a source analysis method, the collapse of the financial sector is determined as the main cause of the slump. The systematization of crisis events is introduced and deepened by the social and political situation. Changes in the state’s condition after the crash are provided and future forecasts about economic development are discussed. As a summing up, the author disapproves of the hypothesis that the Icelandic model of overcoming the financial breakdown as a panacea for future crises, pointing out that it is only applicable for specific cases and cannot be seen as a magical remedy for every kind of crisis. Article in Journal/Newspaper Iceland Journals University of Lodz International Studies. Interdisciplinary Political and Cultural Journal 20 1 113 130 |
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Open Polar |
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Journals University of Lodz |
op_collection_id |
ftunivlodzojs |
language |
English |
topic |
Iceland small state economy Icelandic crisis causes Icelandic crisis 2008 Icelandic banking system Icelandic EU accession |
spellingShingle |
Iceland small state economy Icelandic crisis causes Icelandic crisis 2008 Icelandic banking system Icelandic EU accession Legutko, Agnieszka Joanna Iceland's Financial Crisis in 2008. Political, Economic and Social Consequences |
topic_facet |
Iceland small state economy Icelandic crisis causes Icelandic crisis 2008 Icelandic banking system Icelandic EU accession |
description |
The author analyzes the successful strategy of overcoming financial breakdown in the case study of Iceland. The aim of the article is to verify a hypothesis that the Icelandic model could become a panacea for future crises? A document analysis method is applied to present essential indicators such as GDP and trade balance. With the use of a source analysis method, the collapse of the financial sector is determined as the main cause of the slump. The systematization of crisis events is introduced and deepened by the social and political situation. Changes in the state’s condition after the crash are provided and future forecasts about economic development are discussed. As a summing up, the author disapproves of the hypothesis that the Icelandic model of overcoming the financial breakdown as a panacea for future crises, pointing out that it is only applicable for specific cases and cannot be seen as a magical remedy for every kind of crisis. |
format |
Article in Journal/Newspaper |
author |
Legutko, Agnieszka Joanna |
author_facet |
Legutko, Agnieszka Joanna |
author_sort |
Legutko, Agnieszka Joanna |
title |
Iceland's Financial Crisis in 2008. Political, Economic and Social Consequences |
title_short |
Iceland's Financial Crisis in 2008. Political, Economic and Social Consequences |
title_full |
Iceland's Financial Crisis in 2008. Political, Economic and Social Consequences |
title_fullStr |
Iceland's Financial Crisis in 2008. Political, Economic and Social Consequences |
title_full_unstemmed |
Iceland's Financial Crisis in 2008. Political, Economic and Social Consequences |
title_sort |
iceland's financial crisis in 2008. political, economic and social consequences |
publisher |
Lodz University Press |
publishDate |
2017 |
url |
https://czasopisma.uni.lodz.pl/international/article/view/2758 https://doi.org/10.1515/ipcj-2017-0020 |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
International Studies. Interdisciplinary Political and Cultural Journal; Vol. 20 No. 1 (2017): Northern Europe. New Political, Economic and Social Trends; 113-130 International Studies. Interdisciplinary Political and Cultural Journal; Tom 20 Nr 1 (2017): International Studies. Interdisciplinary Political and Cultural Journal; 113-130 2300-8695 1641-4233 |
op_relation |
https://czasopisma.uni.lodz.pl/international/article/view/2758/2372 https://czasopisma.uni.lodz.pl/international/article/view/2758 doi:10.1515/ipcj-2017-0020 |
op_rights |
Copyright (c) 2017 International Studies. Interdisciplinary Political and Cultural Journal https://creativecommons.org/licenses/by-nc-nd/4.0 |
op_rightsnorm |
CC-BY-NC-ND |
op_doi |
https://doi.org/10.1515/ipcj-2017-0020 |
container_title |
International Studies. Interdisciplinary Political and Cultural Journal |
container_volume |
20 |
container_issue |
1 |
container_start_page |
113 |
op_container_end_page |
130 |
_version_ |
1766037456721805312 |