Iceland: How Could This Happen?

Arbeitspapier

This paper reviews economic developments in Iceland following its financial collapse in 2008, focusing on causes and consequences of the crash. The review is presented in the context of the Nordic region, with broad comparisons also with developments elsewhere on the periphery of Europe, in Greece, Ireland, and Portugal. In some ways, however, Iceland resembles Italy, Japan, and Russia more than it resembles its Nordic neighbors or even Ireland. The paper also considers the uncertain prospects for reforms and restoration as well as the possible effects of the crash on social, human, and real capital and on long-run economic growth.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 4605

Classification and Topics

• Classification: Wirtschaft ; Financial Crises ; Economic Growth and Aggregate Productivity: General
• Subject: Iceland ; financial crisis ; social capital

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Gylfason, Thorvaldur
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/93403
• Last update: 10.03.2025, 11:46 AM CET