THE GREAT FINANCIAL CRISIS IN FINLAND AND SWEDEN
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- Author: LARS JONUNG
- ISBN: 9781848443051
- Availability: In Stock
Buy THE GREAT FINANCIAL CRISIS IN FINLAND AND SWEDEN | Management Books, New Arrivals
Following World War II, Nordic countries were commonly
regarded as successful and stable economies. This perception was, however, shattered
in the early 1990s when Finland and Sweden encountered severe financial crises.
Here, the authors explore the symptoms of financial crisis – decreasing real
income, soaring unemployment and exploding public deficits – and their
devastating effects.
The book compares and contrasts the experiences of
Finland and Sweden, then adopts an international perspective, encompassing the
experiences of Asia, Latin America, Denmark and Norway. Lessons from the 1990s
crisis are drawn, and possible solutions prescribed. The conclusion is that
long-term effects of financial crises – financial liberalization and
integration – are not as dramatic as the short-term effects, but may prove to
be of greater importance over time. Only the future will show whether these long-term
benefits will balance or even outweigh the enormous short-term costs of the
crises.