The Great Financial Crisis in Finland and Sweden: The Nordic Experience of Financial Liberalization

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Lars Jonung, Jaakko Kiander, Pentti Vartia
Edward Elgar Publishing, Jan 1, 2009 - Business & Economics - 352 pages
The Nordic financial crisis had it all: a botched liberalization, a huge boom followed by an even bigger bust, massive taxpayer-financed bailouts and, finally, deep long-run gains. The first-class team of scholars mobilized in this book convincingly tell
 

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Contents

1 Introduction
1
PART I The crisis of the 1990s in Finland and Sweden
17
the dynamics of boom bust and recovery 19852000
19
similar but not quite the same
71
4 The crisis of the 1990s and unemployment in Finland and Sweden
131
5 How costly was the crisis in Finland and Sweden?
158
PART II The international context
181
6 The boom and bust cycle in Finland and Sweden in an international perspective
183
7 The boom and bust cycle in Norway
202
8 How did Denmark avoid a banking crisis?
245
common causes diff erent outcomes
265
PART III Lessons from the Nordic crises
299
10 Twelve lessons from the Nordic experience of financial liberalization
301
Index
325
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