PL EN


2013 | 170 | 190-205
Article title

Lekcje z doświadczeń Islandii w przeciwdziałaniu skutkom kryzysu finansowego

Content
Title variants
EN
Lessons from Iceland 's Experience in Anticrisis Activities
Languages of publication
PL
Abstracts
EN
Iceland was the first European country which was severely hit by the financial crisis of 2008. The consequences of rapid increase in financial services and fast economic growth led to overheating in Icelandic economy and collapse of the banking sector. Iceland formulated a recovery program focused on unusual element - capital control. Moreover, exchange rate stability, restructurization of debts and consolidation of public finance were also introduced as stabilization measures. Comparing to others European economies, like Greece or Spain, in 2011 the condition of Icelandic economy was better (higher rate of GDP growth, lower unemployment rate and public deficit). The strategy adopted by Iceland turned out to bring successful results, but there is a question whether it could be implemented in others economies.
Year
Volume
170
Pages
190-205
Physical description
Contributors
References
  • Baldwin R., Wyplosz Ch., Economics of European Integration, McGrawHill Companies, Berkshire 2009.
  • Bank Centralny Islandii, The financial system: outlook and major risks, http://www.cb.is/ financial-stability/ the-financial-system--outlook-and-major-risks/.
  • Blanchard O., Makroekonomia, Wolters Kluwer Polska, Warszawa 2011.
  • Eurostat, ec.europa.eu/eurostat.
  • Guðmundsson M., Iceland's crisis and recovery and the crisis in the eurozone, BIS Speaches, 20.07.2010, http://www.bis.org/country/is.htm.
  • IMF, Iceland Country Report No. 12/89, April 2012, http://www.imf.org/external/pubs/ft/ scr/2012/cr1289.pdf.
  • IMF, World Economic Outlook, Database April 2012, www.imf.org/external/pubs/ft/weo
  • Komisja Europejska, Komunikat Komisji do Parlamentu Europejskiego i Rady, Opinia Komisji w sprawie wniosku Islandii o członkostwo w Unii Europejskiej, Bruksela, 24.02.2010.
  • Montiel P.J., Makroekonomia międzynarodowa, Wolters Kluwer Polska, Warszawa 2012.
  • OECD,EconomicOutlook2011, http://www.oecd.org/eco/economicoutlookanalysisandforecasts/.
  • Ong L., Čihák M., Of Runes and Sagas: Perspectives on Liquidity Stress Testing Using an Iceland Example, IMF Working Papers No. 156, 2010.
  • Reinhart C.M., Reinhart V., Rogoff K., Debt Overhangs: Past and Present, NBER Working Paper No. 18015, April 2012.
Document Type
Publication order reference
Identifiers
ISSN
2083-8611
YADDA identifier
bwmeta1.element.desklight-79a71f78-2580-4e1d-bf98-cf352c0aa301
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