Áfram á rauðu ljósi [Against a Red Light]: Fjármálahrunið á Íslandi og reynsla Norðurlandanna Íslandi [The Financial Crisis in Iceland and the Nordic Countries’ Experience]

Throstur Olaf Sigurjonsson, Már Wolfgang Mixa

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Academics have in recent years compared financial crises in order to gain a better understanding of preceding circumstances. This paper explores whether Icelanders were oblivious to historical warning signals preceding the financial crisis in 2008. A specific focus is on whether Icelanders should have seen warning signals by exploring warning signs in other countries that have recently dealt with financial crises. This research compares the prelude of Iceland’s financial crisis to preceding circumstances of the Scandinavian crisis during the early 1990s. The result is that the characteristics showed remarkable similarities indicating that a deep crisis was brewing in Iceland. Classic symptoms of a prelude to a crisis were even more evident in Iceland.
Original languageIcelandic
JournalTímarit um viðskipti og efnahagsmál (Research in Applied Business and Economics)
Issue number1
Pages (from-to)21-40
Number of pages20
Publication statusPublished - 2010
Externally publishedYes

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