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Author
Legutko Agnieszka Joanna (Cracow University of Economics, Poland)
Title
Iceland's Financial Crisis In 2008 : Political, Economic and Social Consequences
Source
International Studies : Interdisciplinary Political and Cultural Journal, 2017, vol. 20, nr 1, s. 113-130, rys., tab., bibliogr. 28 poz.
Keyword
Kryzys gospodarczy, Kryzys bankowy, Sytuacja gospodarcza
Economic crisis, Banking crisis, Economic situation
Note
summ.
Country
Islandia
Iceland
Abstract
The author analyzes the successful strategy of overcoming financial breakdown in the case study of Iceland. The aim of the article is to verify a hypothesis that the Icelandic model could become a panacea for future crises? A document analysis method is applied to present essential indicators such as GDP and trade balance. With the use of a source analysis method, the collapse of the financial sector is determined as the main cause of the slump. The systematization of crisis events is introduced and deepened by the social and political situation. Changes in the state's condition after the crash are provided and future forecasts about economic development are discussed. As a summing up, the author disapproves of the hypothesis that the Icelandic model of overcoming the financial breakdown as a panacea for future crises, pointing out that it is only applicable for specific cases and cannot be seen as a magical remedy for every kind of crisis.(original abstract)
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Bibliography
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ISSN
2300-8695
Language
eng
URI / DOI
http://dx.doi.org/10.1515/ipcj-2017-0020
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