The Nordic Banking Crisis: Pitfalls in Financial Liberalization: Pitfalls in Financial Liberalization

April 20, 1998

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Format: Chicago

Burkhard Drees, and Ceyla Pazarbasioglu. The Nordic Banking Crisis: Pitfalls in Financial Liberalization: Pitfalls in Financial Liberalization, (USA: International Monetary Fund, 1998) accessed November 21, 2024

Summary

This study examines the banking crises in Finland, Norway and Sweden, which took place in the early 1990s, and draws some policy conclusions from their experiences. One key conclusion is that factors in addition to business cycle effects explain the Nordic countries financial problems. Although the timing of the deregulation in all three countries coincided with a strongly expansionary macroeconomic momentum, the main reasons for the banking crises were the delayed policy responses, the structural characteristics of the financial systems, and the banks inadequate internal risk-management controls.

Subject: Bank credit, Banking, Banking crises, Commercial banks, Credit, Financial crises, Financial institutions, Loans, Money

Keywords: Bank, Bank credit, Banking crises, Commercial banks, Credit, Deregulation, Deregulation effort, Europe, Foreign currency lending, Lending, Lending risk, Loan loss, Loans, OP, Rate, Savings bank, Stock-adjustment effect

Publication Details

Pages:

41
Volume:

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DOI:

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Issue:

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Series:

Occasional Paper No. 1998/007
Stock No:

S161EA0000000
ISBN:

9781557757005
ISSN:

0251-6365

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