Financialisation and financial crisis in Iceland
| Autor: | Björn Rúnar Guðmundsson |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Excessive growth
Economics and Econometrics 050208 finance economic development financialisation financial crisis 05 social sciences Institutional economics jel:E21 jel:E22 Post-Keynesian economics jel:E25 jel:G01 jel:F36 jel:E02 Market economy Income distribution Capital (economics) jel:O11 0502 economics and business Financial crisis Economics 050207 economics Finance Financial sector |
| Zdroj: | European Journal of Economics and Economic Policies: Intervention. 13:292-322 |
| ISSN: | 2052-7772 2052-7764 |
| Popis: | Financialisation in Iceland should be seen as an evolving process driven by a mixture of global and domestic forces. Responding to fundamental issues underlying macroeconomic imbalances, the authorities introduced policies that proved particularly supportive of financial expansion at a time when cross-border capital movements were rapidly on the rise. Consequently, the rise in financial activity has had profound effects on income distribution and corporate and household behaviour. Following the 2008 financial meltdown, which was triggered by excessive growth of the financial sector, financialisation in Iceland has reversed to a degree, allowing for a shift away from financial-led towards increasingly export-led growth. |
| Databáze: | OpenAIRE |
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