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Item Details
Title:
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PRELUDES TO THE ICELANDIC FINANCIAL CRISIS
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By: |
Robert Z. Aliber (Editor), Gylfi Zoega (Editor) |
Format: |
Electronic book text |

List price:
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£84.00 |
We believe that this item is permanently unavailable, and so we cannot source
it.
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ISBN 10: |
0230307140 |
ISBN 13: |
9780230307148 |
Publisher: |
PALGRAVE MACMILLAN |
Pub. date: |
19 January, 2011 |
Description: |
Iceland became one of the symbols of the global financial crisis. It provides an ideal test case for the perceptions of economists, in particular their ability to anticipate crises. The book contains papers and reports, written prior to the collapse of Iceland's financial system, about the economy. What did and didn't they see coming, and why? |
Synopsis: |
Iceland became one of the symbols of the fourth wave of the financial crisis, since the end of the first decade of the twenty-first century. Between 2003 and 2008, the market value of the stock of Iceland's biggest companies increased by 700 per cent, and the assets of its three banks multiplied eightfold to eight times the country's GDP. When the bubble burst, it helped bring the world economy to its knees. This volume brings together several papers written by professional economists before the crash, warning of the dangers of the bubble economy that was being created. The papers discuss the imbalances created by an inflow of foreign capital, the hazards of a rapidly expanding banking system, and the perils that all banks face in a bubble economy. The chapters also provide a case study of the economics profession before the collapse of the international financial system. What did and didn't they see coming, and why? An introduction and conclusion contextualize the articles and draw out some important lessons.This book is essential reading for all interested in macroeconomics, economic policy and international finance, as well as anyone seeking to grasp the causes of the deepest global recession since the Great Depression. |
Illustrations: |
141, 110 figures, 31 black & white tables |
Publication: |
UK |
Imprint: |
Palgrave Macmillan |
Returns: |
Non-returnable |
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