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Privatization and Deregulation: a Chronology of Events

In: Preludes to the Icelandic Financial Crisis

Author

Listed:
  • Throstur Olaf Sigurjonsson

    (Reykjavik University)

Abstract

The saga of Iceland’s largest banks begins with deregulation and privatization. Although it is incorrect to blame these two factors entirely for the subsequent collapse, the liberalization process of financial markets and capital market integration in the 1990s (which followed Iceland’s membership of the EEA (European Economic Area)), created an environment where the Icelandic financial service industry could thrive and enjoy the fruits of its risk-taking and an adventurous business culture.

Suggested Citation

  • Throstur Olaf Sigurjonsson, 2011. "Privatization and Deregulation: a Chronology of Events," Palgrave Macmillan Books, in: Robert Z. Aliber & Gylfi Zoega (ed.), Preludes to the Icelandic Financial Crisis, chapter 3, pages 26-40, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30714-8_3
    DOI: 10.1057/9780230307148_3
    as

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