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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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Related research

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

Find related papers by JEL classification:

• E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
• G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies
• G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
• G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
• G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
• G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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Cited by:

1. Eric M. Leeper, 2009. "Anchoring Fiscal Expectations," Caepr Working Papers 2009-015, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington.
   
   • Eric M. Leeper, 2009. "Anchoring fiscal expectations," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 72, pages 17-42, September.
   • Eric M. Leeper, 2009. "Anchoring Fiscal Expectations," NBER Working Papers 15269, National Bureau of Economic Research, Inc.
2. Hongyi Chen & Lars Jonung & Olaf Unteroberdoerster, 2009. "Lessons for China from financial liberalization in Scandinavia," European Economy - Economic Papers 383, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
   
   • 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.
   
   • Volz, Ulrich, 2012. "Lessons of the European Crisis for Regional Monetary and Financial Integration in East Asia," ADBI Working Papers 347, Asian Development Bank Institute.
4. 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.

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