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Financial Crisis and Crisis Management in Sweden. Lessons for Today

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  • Jonung, Lars

    (Asian Development Bank Institute)

Abstract

This paper gives an account of the Swedish financial crisis covering the period 1985–2000, dealing with financial deregulation and the boom in the late 1980s, the bust and the financial crisis in the early 1990s, the recovery from the crisis and the bank resolution policy adopted during the crisis. The paper focuses on three issues: the causes and consequences of the financial crisis, the policy response concerning bank resolution, and the applicability of the Swedish model of bank crisis management for countries currently facing financial problems.

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File URL: http://www.adbi.org/working-paper/2009/11/20/3368.financial.crisis.mngt.sweden/
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Bibliographic Info

Paper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 165.

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Length: 25 pages
Date of creation: 20 Nov 2009
Date of revision:
Handle: RePEc:ris:adbiwp:0165

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Keywords: financial crisis; crisis management; bank resolution; solvency crisis; banking crisis;

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References

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  1. Charles Morris & Klara Parrish, 1997. "Maintaining financial stability in a global economy : a summary of the Bank's 1997 Symposium," Economic Review, Federal Reserve Bank of Kansas City, issue Q IV, pages 23-35.
  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. Englund, Peter, 1999. "The Swedish Banking Crisis: Roots and Consequences," Oxford Review of Economic Policy, Oxford University Press, vol. 15(3), pages 80-97, Autumn.
  4. Fregert, Klas & Jonung, Lars, 2008. "Inflation Targeting Is a Success, So Far: 100 Years of Evidence from Swedish Wage Contracts," Economics Discussion Papers 2008-24, Kiel Institute for the World Economy.
  5. Jennergren, L. Peter, 2001. "The Swedish Finance Company Crisis -- Could It Have Been Anticipated?," Working Paper Series in Business Administration 2001:6, Stockholm School of Economics, revised 12 Dec 2001.
  6. Jacob Frenkel & Chairman, 1997. "Maintaining financial stability in a global economy; general discussion, overview panel," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 345-358.
  7. Burkhard Drees & Ceyla Pazarbasioglu, 1995. "The Nordic Banking Crises," IMF Working Papers 95/61, International Monetary Fund.
  8. Henrekson, Magnus & Jonung, Lars & Stymne, Joakim, 1994. "Economic Growth and the Swedish Model," Working Paper Series in Economics and Finance 19, Stockholm School of Economics.
  9. Lars Jonung & Jaakko Kiander & Pentti Vartia, 2008. "The great financial crisis in Finland and Sweden - The dynamics of boom, bust and recovery, 1985-2000," European Economy - Economic Papers 350, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
  10. Martin Feldstein, 1997. "Maintaining financial stability in a global economy; overview," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 319-329.
  11. Calomiris, Charles W & Klingebiel, Daniela & Laeven, Luc, 2004. "A taxonomy of financial crisis resolution mechanisms : cross-country experience," Policy Research Working Paper Series 3379, The World Bank.
  12. anonymous, 1997. "Maintaining financial stability in a global economy : a symposium, Jackson Hole, Wyoming, August 28-30, 1997," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City.
  13. Edward A.J. George, 1997. "Maintaining financial stability in a global economy; overview," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 331-335.
  14. Alan Greenspan, 1997. "Opening remarks : maintaining financial stability in a global economy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 1-6.
  15. Jean-Claude Trichet, 1997. "Maintaining financial stability in a global economy; overview," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 337-343.
  16. Kindleberger,, 2008. "Financial Crises," Cambridge Books, Cambridge University Press, number 9780521068710, Fall.
  17. Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises," IMF Working Papers 08/224, International Monetary Fund.
  18. Lars Jonung, 2008. "Lessons from Financial Liberalisation in Scandinavia," Comparative Economic Studies, Palgrave Macmillan, vol. 50(4), pages 564-598, December.
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Cited by:
  1. Jaromír Baxa & Roman Horváth & Borek Vasícek, 2011. "Monetary Policy Rules and Financial Stress: Does Financial Instability Matter for Monetary," Working Papers wpdea1101, Department of Applied Economics at Universitat Autonoma of Barcelona.

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