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The Swedish model for resolving the banking crisis of 1991 - 93. Seven reasons why it was successful

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Author Info

  • Lars Jonung

Abstract

This study presents the main features of the Swedish approach for resolving the banking crisis of 1991-93 by condensing them into seven policy lessons. The main features of the Swedish approach to the banking crisis of 1991-93 concern political unity, a government blanket guarantee, swift policy action,an adequate legal and institutional framework, full disclosure of information, a differentiated resolution policy, and the proper design of macroeconomic policies.

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File URL: http://ec.europa.eu/economy_finance/publications/publication14098_en.pdf
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Bibliographic Info

Paper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 360.

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Length: 27 pages
Date of creation: Feb 2009
Date of revision:
Handle: RePEc:euf:ecopap:0360

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Keywords: The Swedish model for resolving the banking crisis of 1991-93; financial crisis; bank resolution; solvency crisis; banking crisis; moral hazard; Sweden; Jonung;

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Cited by:
  1. Jean-Claude Trichet, 2013. "Unconventional Monetary Policy Measures: Principles-Conditions-Raison d’etre," International Journal of Central Banking, International Journal of Central Banking, vol. 9(1), pages 229-250, January.
  2. Hongyi Chen & Lars Jonung & Olaf Unteroberdoerster, 2009. "Lessons for China from Financial Liberalization in Scandinavia," Working Papers 262009, Hong Kong Institute for Monetary Research.
  3. Ulrich Volz, 2012. "Lessons of the European Crisis for Regional Monetary and Financial Integration in East Asia," Finance Working Papers 23189, East Asian Bureau of Economic Research.
  4. Eric M. Leeper, 2009. "Anchoring fiscal expectations," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 72, pages 17-42, September.
  5. Susan Lund & Charles Roxburgh, 2010. "Debt and Deleveraging," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 11(2), pages 1-30, April.

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