Repressed financial systems as instruments of taxation : evidence from Iceland
AbstractThe paper discusses how inflation and direct government intervention in the financial sector can be used as a substitute for tax revenue and as a means for redistributing resources. Five stages of financial repression are identified and data presented which suggest that the post-war economy of Iceland has belonged to the fifth and highest stage. The industrial organization of a repressed financial system is examined along with the forces that undermined the Icelandic financial system. The final section introduces the dilemmas of financial liberalization.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Finnish Economic Association in its journal Finnish Economic Papers.
Volume (Year): 3 (1990)
Issue (Month): 1 (Spring)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Editorial Secretary).
If references are entirely missing, you can add them using this form.