Rafai Krisztina Fanni: A 2008-as pénzügyi-gazdasági válság izlandi kezelésének tanulságai. In: Acta Universitatis Szegediensis : forum : publicationes discipulorum iurisprudentiae, (2). pp. 379-408. (2019)
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Abstract
The global economic and financial crisis which started a decade ago had a significant effect all over the world. Among its very first victims was Iceland, a small state highly exposed to international markets. By the end of 2008 the country was in the headlines for having its entire bank system collapsed, while the state itself was also close to sovereign depth crisis. However, despite the severe situation only ten years ago, Iceland became famous more for its unusual but extremely effective crisis management, which helped the country become one of the most prosperous nations of today. Holding the political and financial elite responsible for their actions that led up to the meltdown was a unique achievement that hardly no other country could follow. The ’unorthodox’ steps of the economic recovering, including the practise of bail-in and capital controls, have evoked doubts all over the world, but with a hindsight they proved to be right. The diplomatic dispute surrounding the lost assets of the foreign debtors has ended with a court ruling in favour of Iceland. However, these successful steps were shadowed by shallow research and misbeliefs in the last few years. The aim of my essay is to show the reality of the Icelandic crisis management in the last ten years, as the lessons we can learn from it can be applied by other countries as well in future crisis situations. I am highlighting the most important achievements of the process, while also underlining the controversies, and examining the changes that occurred as a result of the crisis in the various subsystems of the society.
| Item Type: | Article |
|---|---|
| Other title: | Lessons from the management of the 2008 financial and economic crisis in Iceland |
| Journal or Publication Title: | Acta Universitatis Szegediensis : forum : publicationes discipulorum iurisprudentiae |
| Date: | 2019 |
| Volume: | 2 |
| ISSN: | 2560-2802 |
| Page Range: | pp. 379-408 |
| Related URLs: | http://acta.bibl.u-szeged.hu/70816/ |
| Uncontrolled Keywords: | Pénzügyi válság - Izland - 2008, Gazdasági válság - Izland - 2008, Problémamegoldás, Válságkezelés |
| Additional Information: | Bibliogr. a lábjegyzetekben ; összefoglalás angol nyelven |
| Subjects: | 05. Social sciences 05. Social sciences > 05.02. Economics and business |
| Date Deposited: | 2020. Dec. 07. 11:36 |
| Last Modified: | 2021. Jan. 18. 15:02 |
| URI: | http://acta.bibl.u-szeged.hu/id/eprint/70872 |
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