The Nordic Banking Crisis: Pitfalls in Financial Liberalization

The Nordic Banking Crisis: Pitfalls in Financial Liberalization

by Ceyla Pazarbasioglu and Burkhard Mr. Drees
Epub (Kobo), Epub (Adobe)
Publication Date: 22/07/2013

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This study examines the banking crises in Finland, Norway and Sweden, which took place in the early 1990s, and draws some policy conclusions from their experiences. One key conclusion is that factors in addition to business cycle effects explain the Nordic countries' financial problems. Although the timing of the deregulation in all three countries coincided with a strongly expansionary macroeconomic momentum, the main reasons for the banking crises were the delayed policy responses, the structural characteristics of the financial systems, and the banks' inadequate internal risk-management controls.
ISBN:
9781452706597
9781452706597
Category:
Macroeconomics
Format:
Epub (Kobo), Epub (Adobe)
Publication Date:
22-07-2013
Language:
English
Publisher:
International Monetary Fund

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