The website of the Directorate General for Economic and Financial Affairs has moved.
You will find all publications issued after July 2015 on the new web presence.
The Swedish model for resolving the banking crisis of 1991 - 93. Seven reasons why it was successful. - Lars Jonung
Author(s): Lars Jonung
The Swedish model for resolving the banking crisis of 1991 - 93. Seven reasons why it was successful. - Lars Jonung (398 kB)
Summary for non-specialists (73 kB)
This study presents the main features of the Swedish approach for resolving the banking crisis of 1991-93 by condensing them into seven policy lessons.
The main features of the Swedish approach to the banking crisis of 1991-93 concern
- political unity,
- a government blanket guarantee,
- swift policy action,
- an adequate legal and institutional framework,
- full disclosure of information,
- a differentiated resolution policy, and
- the proper design of macroeconomic policies.
JEL classification E44, G14, G21, G28, G32, G33.
(European Economy. Economic Papers 360. February 2009.
Brussels. 27pp. Tab. Graph. Ann. Bibliogr. Free.)
|ISBN 978-92-79-0970 (online)||
|ISSN 1725-3187 (online)