| Description |
1 online resource (xiii, 357 pages) : illustrations |
| Contents |
Introduction; R. Aliber -- Summary of Papers; G. Zoega -- Privatisation and Deregulation: A Chronology of Events; T. Olaf Sigurjonsson -- PART I: INTERNATIONAL ORGANIZATIONS AND THE CENTRAL BANK OF ICELAND -- International Monetary Fund, Article IV Consultations 2004-2008 -- OECD Policy Brief 2008 -- Central Bank of Iceland, Financial Stability Reports 2005-8 -- PART II: OTHER PAPERS AND REPORTS -- Fitch Report, February 2006 -- Iceland's Geyser Crisis; L. Christiansen -- Financial Stability in Iceland; F. Mishkin & T.T. Herbertsson -- The Internationalization of Iceland's Financial Sector; F.M. Baldursson & R. Portes -- The Collapse of Iceland's Banks: the Predictable End of a Non-viable Business Model; W. Buiter & A. Sibert -- Iceland on the Brink?; D. Gros -- Events in Iceland: Skating on Thin Ice; T. Gylfason -- A Spending Spree; G. Zoega -- Monetary Turbulence and the Icelandic Economy; R.Z. Aliber -- PART III: LESSONS FOR OTHER COUNTRIES -- Overbanked and Undersized: Lessons from Iceland; A. Sibert |
| Summary |
Iceland became one of the symbols of the fourth wave of the financial crisis, since the end of the first decade of the twenty-first century. Between 2003 and 2008, the market value of the stock of Iceland's biggest companies increased by 700 per cent, and the assets of its three banks multiplied eightfold to eight times the country's GDP. When the bubble burst, it helped bring the world economy to its knees. This volume brings together several papers written by professional economists before the crash, warning of the dangers of the bubble economy that was being created. The papers discuss the imbalances created by an inflow of foreign capital, the hazards of a rapidly expanding banking system, and the perils that all banks face in a bubble economy. The chapters also provide a case study of the economics profession before the collapse of the international financial system. What did and didn't they see coming, and why? An introduction and conclusion contextualize the articles and draw out some important lessons. This book is essential reading for all interested in macroeconomics, economic policy and international finance, as well as anyone seeking to grasp the causes of the deepest global recession since the Great Depression |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Print version record |
| Subject |
Finance -- Iceland
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Financial crises -- Iceland
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Financial crises & disasters -- Iceland.
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Banking -- Iceland.
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POLITICAL SCIENCE -- Economic Conditions.
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BUSINESS & ECONOMICS -- Economics -- Comparative.
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BUSINESS & ECONOMICS -- Economic Conditions.
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BUSINESS & ECONOMICS -- Economic History.
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Conditions économiques.
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Activité bancaire.
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Capitaux étrangers.
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Crise financière.
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Economics.
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Economic history
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Economic policy
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Finance
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Financial crises
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Wirtschaftsentwicklung
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Wirtschaftskrise
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Finanzwirtschaft
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| SUBJECT |
Iceland -- Economic policy
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Iceland -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh85064018
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| Subject |
Islande.
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Iceland
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Island
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| Form |
Electronic book
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| Author |
Aliber, Robert Z
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Gylfi Zoega
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| ISBN |
9780230307148 |
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0230307140 |
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1283097222 |
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9781283097222 |
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